🌎 134 Countries Exploring CBDCs Covering 98% of Global Economy

A new report reveals that 134 countries, covering 98% of the global economy, are exploring digital currencies, with 44 currently piloting CBDCs.

Global Exploration of CBDCs

Central bank digital currencies (CBDCs) are gaining widespread attention, with nearly 99% of the global economy now focused on this technology. According to data from a U.S.-based think tank, as of September, 134 countries are examining CBDCs, a significant increase from 35 in May 2020.

Advanced Stages of CBDC Exploration

Over 65 countries, including India, Australia, and Brazil, are in advanced stages of CBDC exploration, whether in development, pilot, or launch phases. Every G20 country is investigating its own CBDC, with 19 in advanced stages of exploration, according to the think tank.

Countries Exploring CBDCs

The data shows that despite global interest, only three countries — The Bahamas, Jamaica, and Nigeria — have fully launched CBDCs. All three countries are working on expanding their domestic reach.

Geopolitical Implications

The push for digitization appears to have geopolitical goals, as all original BRICS member states — Brazil, Russia, India, China, and South Africa — are piloting CBDCs as an “alternate payments system to the dollar.”