Why Over 80% of Central Banks Are Exploring Digital Currencies

Greater than 80% of the world’s central banks are exploring digital currencies, based on a 2024 survey by the Financial institution for Worldwide Settlements. Of the 86 central banks surveyed, 94% have been engaged in some type of CBDC analysis, and greater than 60% have been in superior phases of improvement or pilot testing. China’s digital yuan has processed greater than $250 billion in cumulative transactions since its pilot started in 2020, making it probably the most deployed CBDC on the planet, based on the Folks’s Financial institution of China. Why Central Banks Are Shifting to Digital Currencies Declining money utilization is the first motivator….