CBDCs: 167 Countries Exploring, Only 4 Implemented
CryptoNewsTerminal Staff05 Jun, 2024
CBDCs: 167 Countries Exploring, Only 4 Implemented
Central bank digital currencies (CBDCs) have gained traction in recent years, with 167 countries researching and developing them. However, only four countries—Jamaica, Zimbabwe, Nigeria, and The Bahamas—have successfully launched and deployed CBDCs. According to data from CBDCtracker, privacy concerns and other issues have led seven countries, including the Philippines, Kenya, Denmark, Singapore, Ecuador, Curacao, and Finland, to abandon their CBDC projects. Despite the challenges, many countries continue to explore the potential benefits of CBDCs, such as increased financial inclusion, reduced transaction costs, and enhanced efficiency in cross-border payments. It remains to be seen which countries will successfully implement CBDCs and how they will impact the global financial landscape.
