Central bank digital currency momentum growing, study shows
Growing number of countries piloting digital currencies
Those already launched have seen usage finally pick up
China could fully launch e-CNY next year, U.S. lagging
By Marc Jones
LONDON, Sept 17 (Reuters) -A total of 134 countries representing 98% of the global economy are now exploring digital versions of their currencies, with almost half at an advanced stage and pioneers like China, the Bahamas and Nigeria starting to see a pick up in usage.
The research by the U.S.-based Atlantic Council think-tank published on Tuesday showed that all G20 nations are now looking into central bank digital currencies (CBDCs) as they are known and that 44 countries in total are piloting them.
That is up from 36 a year ago and is part of a global push by authorities to respond to declining cash usage and the threat to their money-printing powers from the likes of bitcoin and 'Big Tech'.
The Atlantic Council's Josh Lipsky and Ananya Kumar said one of the most noteable developments this year has been the sizable increase in the Bahamas, Jamaica and Nigeria's CBDCs, the only three countries that have already launched them.
China too, which is running the world's largest pilot scheme, has seen use of its protype e-CNY nearly quadruple to 7 trillion yuan ($987 billion) of transactions according to officials.
"There has been a narrative that the countries that have launched CBDCs have seen low or no usage, but in the last months we have seen a real uptake," Lipsky said.
"My predication is that the PBOC (China's central bank) will be close to full launch a year from now," he added.
Other big advances have been the European Central Bank's launch of a multi-year digital euro pilot and the United States, which has long dragged its feet on a digital dollar, joining a cross-border CBDC project with six other major central banks.
It still lags far behind nearly every other leading bank however Lipsky highlighted that it is one of the countries where privacy and other concerns about CBDCs are most vocal.
In May, the U.S. House of Representatives passed a bill prohibiting the direct issuance of a 'retail' CBDC - the type used by the public. The Senate has not yet acted, but it remains a live issue in the presidential election campaign between Donald Trump and Kamala Harris.
Since Russia's invasion of Ukraine and the G7 sanctions response, 'wholesale' bank-to-bank only CBDC projects have more than doubled in number to 13.
The fastest growing one, codenamed mBridge, connects CBDCs from China, Thailand, the UAE, Hong Kong and Saudi Arabia and is expected to expand to more countries this year.
Russia is unlikely to be one of them but its digital rouble pilot means it is now accepted in the Moscow metro and in some petrol stations. Iran is also working on a digital rial.
"No matter what happens with the U.S. election, the Fed is years behind," Lipsky said.
($1 = 7.0930 Chinese yuan renminbi)
Central bank digital currencies around the world https://tmsnrt.rs/4e8udqG
Reporting by Marc Jones; Editing by Michael Perry
Últimas noticias
Descargo de responsabilidades: Cada una de las entidades de XM Group proporciona un servicio de solo ejecución y acceso a nuestra plataforma de trading online, permitiendo a una persona ver o usar el contenido disponible en o a través del sitio web, sin intención de cambiarlo ni ampliarlo. Dicho acceso y uso están sujetos en todo momento a: (i) Términos y Condiciones; (ii) Advertencias de riesgo; y (iii) Descargo completo de responsabilidades. Por lo tanto, dicho contenido se proporciona exclusivamente como información general. En particular, por favor tenga en cuenta que, los contenidos de nuestra plataforma de trading online no son ni solicitud ni una oferta para entrar a realizar transacciones en los mercados financieros. Operar en cualquier mercado financiero implica un nivel de riesgo significativo para su capital.
Todo el material publicado en nuestra plataforma de trading online tiene únicamente fines educativos/informativos y no contiene –y no debe considerarse que contenga– asesoramiento ni recomendaciones financieras, tributarias o de inversión, ni un registro de nuestros precios de trading, ni una oferta ni solicitud de transacción con instrumentos financieros ni promociones financieras no solicitadas.
Cualquier contenido de terceros, así como el contenido preparado por XM, como por ejemplo opiniones, noticias, investigaciones, análisis, precios, otras informaciones o enlaces a sitios de terceros que figuran en este sitio web se proporcionan “tal cual”, como comentarios generales del mercado y no constituyen un asesoramiento en materia de inversión. En la medida en que cualquier contenido se interprete como investigación de inversión, usted debe tener en cuenta y aceptar que dicho contenido no fue concebido ni elaborado de acuerdo con los requisitos legales diseñados para promover la independencia en materia de investigación de inversiones y, por tanto, se considera como una comunicación comercial en virtud de las leyes y regulaciones pertinentes. Por favor, asegúrese de haber leído y comprendido nuestro Aviso sobre investigación de inversión no independiente y advertencia de riesgo en relación con la información anterior, al que se puede acceder aquí.
