105 Countries Are Exploring Central Bank Digital Currencies, CBDC Tracker Shows

105 Countries Are Exploring Central Bank Digital Currencies, CBDC Tracker Shows

There are now 105 countries that are exploring central bank digital currencies (CBDCs). Among them, 50 countries are in an advanced phase of digital currency exploration (development, pilot, or launch). 105 Countries Are Exploring CBDCs

The Atlantic Council’s Geoeconomic Centre has released a major update to its Central Bank Digital Currency (CBDC) Tracker. According to the tracker: 105 countries, representing over 95 percent of global GDP, are exploring a CBDC … A new high of 50 countries are in an advanced phase of exploration (development, pilot, or launch).

Furthermore, the tracker details that “10 countries have fully launched a digital currency, with China’s pilot set to expand in 2023.”

Among the G20 countries, 19 are exploring a CBDC, with 16 already in the development or pilot stage. They include South Korea, Japan, India, and Russia.

Last month, the Bank of International Settlements (BIS) released a report stating that 9 out of 10 central banks globally are exploring CBDCs. The BIS said, “the emergence of stablecoins and other cryptocurrencies have accelerated the work on CBDCs.”

Some countries are further ahead than others, such as China. The Chinese central bank, the People’s Bank of China (PBOC), has been actively testing and giving away its digital yuan.

India is also actively working on its digital rupee. The Indian central bank, the Reserve Bank of India (RBI), said it will take a “graded approach” to launching a CBDC. The central bank is expected to introduce the digital currency this financial year. This week, an RBI official stated that CBDCs could kill cryptocurrencies like bitcoin and ether. Tags in this story Atlantic Council, CBDC, cbdc tracker, central bank digital currency, countries exploring cbdc, countries launching CBDC, G20, g7

What do you think about 105 countries exploring CBDCs? Let us know in the comments section below. Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Nigerian Blockchain and Crypto Association Introduces a Code of Conduct for VASPs REGULATION | 15 hours ago SEC Launches Game-Show Campaign to Educate Investors in "a Playful Way" – Crypto Included REGULATION | 24 hours ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleMinto Token Is Being Released on Binance: Ecomining With an Ambitious Team Next articleBiggest Movers: ADA up 13% on Monday, THETA Moving Towards Multi-Week High Show comments More Popular NewsIn Case You Missed ItRipple CEO: SEC Lawsuit Over XRP "Has Gone Exceedingly Well"

The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Privacy-Centric Monero Plans for July Hard Fork, Plans Include Ring Signature, Bulletproof Upgrade Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether