Retail CBDC complexity may discourage adoption, says research

Kansas City Fed author argues Caribbean CBDCs have struggled to add value

Kansas City Federal Reserve
David R. Frazier Photolibrary, Inc. / Alamy Stock Photo

The complexity of achieving financial integration of a retail central bank digital currency (rCBDC) may discourage commercial banks, says a researcher with the Federal Reserve Bank of Kansas City.

Franklin Noll reviewed the experience of various Caribbean states that launched rCBDCs in the last few years – Jamaica’s Jam-Dex, the Bahamas’s sand dollar, and the Eastern Caribbean’s DCash. In a paper, published on April 10, he says none of the CBDCs has yet achieved widespread adoption.

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