Asian nations seem most inclined to hop on the CBDC bandwagon, while many African countries are still standing aside.
An analysis conducted by Atlantic Council revealed that 130 nations, or 98% of the global GDP, are “exploring” a central bank digital currency .The researchthat 95 counties had joined the CBDC race in the past three years. As of the moment, 130 nations have introduced some programs, with many being developed economies, such as Japan, South Korea, Australia, the UK, and more. Most countries are currently in the “research” phase, whereas 21 have launched pilot tests.
According to the analysis, the progress on retail CBDC in the United States of America “has stalled.” On the other hand, the world’s largest economy has moved forward on a wholesale CBDC. Other leading economies like Japan and the United Kingdom are developing prototypes and are considering consulting the public on the eventual release of a CBDC.
Mercado Bitcoin to participate in the project alongside the financial software fintech Sinqia, the brokerage firm Genial, and others.There are different reasons why a central bank would seek the launch of such a product. Atlantic Council believes CBDCs could promote financial inclusion by providing money access to the unbanked population, introducing competition in the local monetary markets, increasing the efficiency of settlements, and lower transaction fees.
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