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Making headway - Results of the 2022 BIS survey on central bank digital currencies and crypto

Author

Listed:
  • Anneke Kosse
  • Ilaria Mattei

Abstract

Most central banks are exploring central bank digital currencies (CBDCs), and more than half of them are conducting concrete experiments or working on a pilot. This BIS paper summarises the findings of the latest survey of central banks on their views and plans regarding CBDCs. The responses from 86 central banks show that the proportion engaged in some form of CBDC work has risen to 93% and that the work on retail CBDC is more advanced than on wholesale CBDC. In addition, this paper shows that most central banks see potential value in having both a retail CBDC and a fast payment system, and that there could be 15 retail and nine wholesale CBDCs publicly circulating in 2030. The survey further shows that, to date, stablecoins and other cryptoassets are rarely used for payments outside the crypto ecosystem.

Suggested Citation

  • Anneke Kosse & Ilaria Mattei, 2023. "Making headway - Results of the 2022 BIS survey on central bank digital currencies and crypto," BIS Papers, Bank for International Settlements, number 136.
    • Handle: RePEc:bis:bisbps:136
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    References listed on IDEAS

    as
    1. Raphael A. Auer & Giulio Cornelli & Jon Frost, 2020. "Rise of the Central Bank Digital Currencies: Drivers, Approaches and Technologies," CESifo Working Paper Series 8655, CESifo.
    2. Anneke Kosse & Ilaria Mattei, 2022. "Gaining momentum – Results of the 2021 BIS survey on central bank digital currencies," BIS Papers, Bank for International Settlements, number 125, May.
    3. Raphael Auer & Rainer Boehme, 2020. "The technology of retail central bank digital currency," BIS Quarterly Review, Bank for International Settlements, March.
    4. Codruta Boar & Henry Holden & Amber Wadsworth, 2020. "Impending arrival - a sequel to the survey on central bank digital currency," BIS Papers, Bank for International Settlements, number 107, May.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Bhensook Nuntapun & Rattanakul Thanaporn & Synsatayakul Witit & Tohwisessuk Pakaporn, 2025. "Public Use and Distribution of Retail CBDC: An Evidence from Thailand’s Retail CBDC Pilot Program," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 245(4-5), pages 367-399.
    2. Dumitrescu Constantin Cătălin, 2025. "Demystifying Consumers’ Adoption of a Digital Euro in the Euro Area," Proceedings of the International Conference on Business Excellence, Paradigm, vol. 19(1), pages 2887-2910.
    3. Jose Aurazo & Holti Banka & Jon Frost & Anneke Kosse & Thomas Piveteau, 2024. "Central bank digital currencies and fast payment systems: rivals or partners?," BIS Papers, Bank for International Settlements, number 151, May.
    4. Sergey M. Drobyshevsky & Еlena V. Sinelnikova-Muryleva, 2023. "Rules and Consequences of the Digital Ruble Adoption [Правила И Последствия Внедрения Цифрового Рубля]," Russian Economic Development, Gaidar Institute for Economic Policy, issue 8, pages 45-50, August.
    5. Ren, Yi-Shuai & Ma, Chaoqun & Wang, Yiran, 2024. "A new financial regulatory framework for digital finance: Inspired by CBDC," Global Finance Journal, Elsevier, vol. 62(C).
    6. Joerg Mayer, 2024. "De-dollarization: the global payment infrastructure and wholesale central bank digital currencies," FMM Working Paper 102-2024, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    7. Dunbar, Kwamie & Treku, Daniel N., 2024. "Examining the impact of a central bank digital currency on the access to banking," International Review of Financial Analysis, Elsevier, vol. 93(C).
    8. Ozili, Peterson K, 2024. "Artificial intelligence and central bank digital currency," MPRA Paper 121567, University Library of Munich, Germany.
    9. Anneke Kosse & Marc Glowka & Ilaria Mattei & Tara Rice, 2023. "Will the real stablecoin please stand up?," BIS Papers, Bank for International Settlements, number 141, May.
    10. Srichander Ramaswamy, 2024. "Could Uncapped and Unremunerated Retail CBDC Accounts Disintermediate Banks?," Working Papers wp52, South East Asian Central Banks (SEACEN) Research and Training Centre.
    11. Assenmacher, Katrin & Ferrari Minesso, Massimo & Mehl, Arnaud & Pagliari, Maria Sole, 2024. "Managing the transition to central bank digital currency," Working Paper Series 2907, European Central Bank.
    12. Sergey M. Drobyshevsky & Еlena V. Sinelnikova-Muryleva, 2023. "Правила И Последствия Внедрения Цифрового Рубля," Russian Economic Development (in Russian), Gaidar Institute for Economic Policy, issue 8, pages 45-50, August.
    13. Jose Aurazo & Farid Gasmi, 2024. "Financial inclusion transitions in Peru: does labor informality play a role?," BIS Working Papers 1200, Bank for International Settlements.
    14. Jiaqi Li & Andrew Usher & Yu Zhu, 2024. "Central Bank Digital Currency and Banking Choices," Staff Working Papers 24-4, Bank of Canada.
    15. Tan, Brandon Joel, 2024. "Central bank digital currency and financial inclusion," Journal of Macroeconomics, Elsevier, vol. 81(C).

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