Nine in 10 Central Banks Exploring Own Digital Money, BIS Says

Nine in 10 central banks are exploring the possibility of creating their own digital currencies, and more than half are already developing them or running experiments, according the Bank for International Settlements.

Two-thirds of institutions in a BIS survey indicated that central bank digital currencies — or CBDCs — could be issued for retail purposes “in the foreseeable future,” researchers Anneke Kosse and Ilaria Mattei said in a report published Friday.

Source: Bloomberg Economics

The results highlight the urgency with which central banks have sought to keep pace with innovation amid the rising popularity of crypto assets and declining cash use, exacerbated …