Improving payments efficiency drives wholesale CBDC work
Advanced economy institutions lead efforts
More than half of financial institutions participating in the Fintech Benchmarks 2023 are engaging in wholesale central bank digital currency (CBDC) work, but the project is more common to advanced economy respondents.
With responses from 37 participating jurisdictions, the sample showed 54% of central banks are engaging in wholesale CBDC work.
More than half (55%) of the 20 institutions involved in such a project are at the research stage, a quarter (25%) have a proof of concept (POC), 15%
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Few jurisdictions see initiative as comparable to banknotes’ lifecycle
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