Fintech
ECB to run digital euro pilot in second half of 2027
Participants to include payment service providers, end users and merchants
Central banks divided over stablecoin impact on US debt demand
Respondents offer different views on adoption paths and market dynamics
Two-thirds of central banks predict CBDC adoption in 5–10 years
Stablecoin launches seen as more likely by authorities without CBDC mandate
Ex-ECB official: central banks need to vouch more for CBDCs
Monetary authorities have been cornered by banking industry, argues Ulrich Bindseil
Most circulating stablecoins pegged to the greenback
Jurisdictions with stablecoins in use are largely high and upper-middle income countries
Financial stability seen as top risk from private digital money
Concerns differ somewhat by region
Majority of CBDCs designed to be domestic only
But a fifth of central banks are working on multi-currency CBDCs
Officials deny geopolitical fears driving UK payments upgrade
US card payments providers Mastercard and Visa will participate in industry meeting today
Central banks report 28 operational bitcoin ATMs on average
Jurisdictions with larger institutions have the most machines
Economists warn of emerging ‘sovereign-stablecoin nexus’
Researchers model regulatory options as stablecoins become intertwined with core markets
CBDCs politicised in one in five jurisdictions
Public and private sectors mostly concerned about privacy of digital currencies
Central banks develop GenAI tool for inflation nowcasting
Researchers say method has global applicability
Fintech licences issued yearly remain below 10 on average
Number of fintechs in operation averages just over 60
India launches CBDC pilot using 24/7 grain ATMs
Public can use QR codes or SMS passwords to release food
Central banks keep trialling link between wCBDC and RTGS
Most respondents motivated to issue wCBDC to enable financial innovation
Majority of central banks still lack CBDC issuance powers
Legal mandates are scarce in both larger and smaller central banks
BoE to assess eligibility of digital gilts in monetary operations
UK set to become first G7 country to issue sovereign bonds on DLT
Two in five CBDCs designed to be programmable
Over half of respondents’ retail CBDC projects are at research phase
