Government interest in central bank digital currencies persists with 130 countries exploring the space, according to a study by US-based think tank Atlantic Council.
A total of 130 countries are exploring their own virtual currency with nearly half in advanced development, pilot or launch stages, according to s study by the Atlantic Council, accounting for 98 percent of the world economy. 11 countries have already launched central bank digital currencies (CBDC).
Within Asia, noteworthy players include China, with pilot testing now having reached 260 million people, and India, which is planning to launch its CBDC in 2024.
«Since Russia’s invasion of Ukraine and the G7 sanctions response, wholesale CBDC developments have doubled,» the Atlantic Council said, adding that there were now 12 multi-country cross-border projects underway.
Not All Successful
Despite the accelerating CBDC push, not all projects prove to be successful.
Some countries that have launched CBDCs, such as Nigeria, have seen disappointing take-up while others like Senegal and Ecuador have canceled development work.
