Shulou(Shulou.com)11/24 Report--

CTOnews.com, June 29, according to Reuters, the US-based Atlantic Council think-tank released a report yesterday that the central banks of 130 countries and regions, which account for 98% of the global economy, are currently exploring digital currencies, nearly half of them are in the advanced development, pilot or start-up stage, and all G20 countries except Argentina have entered the advanced stage.

The ▲ Tuyuan Pexels report says central banks have been particularly active in exploring digital currency in the past six months. 11 countries, including the Caribbean and Nigeria, have launched CBDC, while China's pilot test now covers 260 million people, covering about 200 payment scenarios ranging from e-commerce to government consumption subsidies.

India and Brazil, two other big emerging economies, also plan to launch digital currencies next year. The European Central Bank is expected to launch a digital euro pilot in 2028, and more than 20 other countries will also take major steps to pilot it this year.

However, research by the Atlantic Council shows that the US digital dollar plan is only "making progress" in the bank-to-bank "wholesale" business, while the more widely used "retail" business has stalled.

The heavyweight position of the dollar in the financial system means that any move by the United States could have a huge global impact, but the Fed said in January that it was up to Congress, not the Fed, to decide whether to introduce a digital version.

The global push for CBDC comes at a time when the use of physical cash is declining and central banks are hoping to fend off threats to their ability to print money from bitcoin and big technology companies through CBDC.

CTOnews.com previously reported that International Monetary Fund (IMF) Managing Director Christina Georgiyeva said recently that IMF is developing a central bank digital currency platform to enable transactions between countries.

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