Bank for International Settlements: 93% of central banks globally are engaged in CBDC-related work

ChainCatcher news, the Bank for International Settlements (BIS) has released the results of its 2022 central bank digital currency (CBDC) and cryptocurrency survey. The survey found that among the 86 banks surveyed, 93% of the banks are involved to varying degrees in CBDC-related work, with more than half conducting specific experiments or pilots. The survey revealed that due to the existence of these stablecoins and cryptocurrency alternatives, 60% of the responding central banks have accelerated their CBDC efforts. The issuance of stablecoins has also raised concerns among currency issuers about the potential impact on their economies. According to the BIS poll, 70% of central banks are studying the instability that stablecoins may cause to their economies, and 40% of central banks are examining the market share of crypto assets and stablecoins within their jurisdictions.