Bahamas, Cambodia, China Lead Global CBDC Race, UK Launches Taskforce
Source: iStock/lcva2
The Bahamas, Cambodia, and China are the three countries with the most mature central bank digital currency (CBDC) projects, as only 23% of the worldâs retail projects have reached the implementation stage, and close to 70% of wholesale projects are in pilot program phase, according to international consultancy
PwC. Meanwhile, today, the
Bank of England (BoE) and
Her Majestyâs Treasury announced the joint creation of a new Taskforce to coordinate work on the potential UK CBDC.
The Bahamas and Cambodia secured top positions on the podium as their respective CBDC projects are live, while China is currently testing its digital yuan project. More than 88% of the worldâs CBDC projects that are currently in the pilot or production phase use blockchain technology, according to data from the report, which was obtained by Bloomberg.