Asia-Pacific
Central banks divided over stablecoin impact on US debt demand
Respondents offer different views on adoption paths and market dynamics
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
Bank Indonesia holds rates again to defend currency
Weak rupiah to delay rate cuts as ratings downgrade weighs on investor appetite, analyst says
Central banks report 28 operational bitcoin ATMs on average
Jurisdictions with larger institutions have the most machines
Emerging economies likely to lag advanced in AI-led growth – study
BIS report highlights divergence in technology’s impact on jobs and countries’ ability to adapt
CBDCs politicised in one in five jurisdictions
Public and private sectors mostly concerned about privacy of digital currencies
Fintech licences issued yearly remain below 10 on average
Number of fintechs in operation averages just over 60
Renminbi options volumes plummet as vol grinds lower
USD/CNH volumes fell 84% in 2025 as PBoC currency management took hold
MAS and HKMA aim to green red envelopes over Lunar New Year
Monetary authorities encourage the giving of used notes or electronic cash gifts to cut waste
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
Two in five CBDCs designed to be programmable
Over half of respondents’ retail CBDC projects are at research phase
This is not quite Japan’s ‘Truss moment’ – ex-BoJ board member
Experts add that central bank is unlikely to have to intervene directly in sovereign bond market
People: Turkey appoints new deputy governors
Plus high-level restructurings in Thailand and Italy
People: President’s nephew confirmed as BI deputy governor
Plus new governor in Malawi and Croatia’s vice-governor to become minister
IMF overcalculated Taiwan’s USD exposure – central bank chief
Fund’s measure showing USD holdings at 45 times local FX markets is “misunderstanding”, Yang says
BoJ holds rates as politics and sovereign bonds take spotlight
Decision closes out week in which JGB yields rose to historic highs after PM called snap election
Legal threat to Fed accelerates Asean+3 contingency planning
AMRO chief economist says central bank independence of paramount importance for stability
Risk management reviews are most common assessment method
Centralised teams are less likely to conduct external or management evaluations
UK’s Orange Book risk approach rarely used by central banks
Only three centralised risk management departments utilise principle