A new survey by the Bank for International Settlements (BIS) has indicated there could be 24 Central Bank Digital Currency’s (CBDC) in circulation by 2030.

Of the 86 banks surveyed, almost a fifth stated that they planned to issue a retail CBDC in the near future.

Broken down further, 16 per cent of central banks said they would likely consider having a wholesale CBDC within the next three years -- twice as much as last year’s BIS survey.

BIS’s survey also found that throughout 2022, 93 per cent of central banks globally engaged in some form of CBDC, finding in the short term that central banks’ hesitancy about the future of CBDC’s was fading.

The survey also found that more than nine in 10 central banks reported engaging with other stakeholders when designing proofs of concept, pilots or live CBDCs.

Meanwhile almost 60 per cent of the surveyed central banks said that the emergence of crypto-assets and stablecoins were chief factors in having accelerated their work on CBDCs.

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