A survey by the Bank for International Settlements (BIS) has found that around 15 retail central bank digital currencies (CBDCs) could be in circulation worldwide by the end of the decade. Nine central banks have also indicated that they are likely to issue a CBDC for wholesale use in financial markets within the next six years.

The study found that 93% of the 86 central banks surveyed are undertaking CBDC work, with major jurisdictions such as India, the UK and the European Union seriously exploring issuing a digital version of their fiat currencies. The report also noted that stablecoins and other crypto assets are seldom used for payments outside the crypto ecosystem, with cross-border remittances and consumer purchases the most popular uses.