Ninety-three percent of central banks were working on their digital currencies (CBDCs) in 2022, according to a report BIS.
Analysts say that nine of the 86 central banks surveyed plan to issue their own digital currencies in the next six years. In total, up to 15 CBDCs could appear by 2030.
“The survey results show that, to date, stablecoins and other crypto assets are rarely used for payments outside the crypto ecosystem,” the report says.
On June 29, BIS’s Innovation Hub, in collaboration with the central banks of France, Switzerland and Singapore, conducted Curve AMM-technology tests for CBDC.
In the same month, the organization named central bank digital currencies as the foundation of future monetary systems. Cryptocurrencies, according to experts at the Bank for International Settlements, are a mistaken path to tokenisation.
Earlier in June, the Swiss National Bank announced its intention to launch a pilot project for a wholesale CBDC.
India is negotiating the use of the digital currency with 18 countries.