The BIS survey found that nine out of ten central banks are exploring or developing central bank digital currencies (CBDCs), with more than half already in the development or experimental stage. The focus has shifted to retail CBDCs, with advanced economies prioritizing financial stability as a motivation. More than two-thirds of central banks globally consider issuing a retail CBDC in the short or medium term. Work on wholesale CBDCs is driven by the need for cross-border payment efficiency. CBDCs are seen as capable of improving the efficiency and inclusiveness of the financial system.
