• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Insights on CBDC Adoption and Market Utility

user avatar

by Giorgi Kostiuk

a year ago


Insights on CBDC Adoption and Market Utility

At a recent Money20/20 event, Pallavi Thakur, Director of Strategy and Innovation at Swift, and Ryan Rugg from Citi shared valuable insights from their collaborative CBDC experiment.

Thakur and Rugg highlighted the rapid global progress in the adoption of central bank digital currencies (CBDCs) but stressed the urgent need for interoperability among various systems, a critical challenge that requires immediate attention.

The adoption of CBDCs is on the rise globally as central banks explore their potential to enhance payment systems, ensure financial stability, and support economic growth. CBDCs serve as digital versions of traditional fiat currencies under central bank control. Unlike cryptocurrencies, CBDCs maintain a stable value tied to their respective nation's currency, backed by monetary policies and regulatory frameworks.

Governments worldwide are exploring CBDCs, with 134 countries considering the concept and 36 nations conducting pilot programs. However, the digital currency landscape faces issues like fraud susceptibility, technical glitches, and transaction inaccuracies.

In light of these challenges, Thakur emphasized the importance of seamless transactions in a scenario where 36 countries are involved, indicating the need for frictionless payment transfers between different digital accounts.

Initially, CBDCs were confined to experimental stages or early pilot initiatives. Now, their global presence has expanded significantly, with extensive adoption by financial institutions and merchants, signaling a notable shift towards digital currencies in the financial domain.

Rugg highlighted the necessity for market utility and cohesive collaboration among financial entities engaged with CBDCs. He stressed the significance of enabling fluid transactions across diverse digital currencies without central control over the system.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Dollar Declines: Record Drop in the First Half of 2025

chest

The dollar fell by 10.8% in the first half of 2025 due to increased money supply, raising concerns about its stability.

user avatarGiorgi Kostiuk

The Dollar Takes a Hit as Money Supply Surges: Key Insights

chest

The US dollar index fell by 10.8% in the first half of 2025 amid rising money supply and budget deficits.

user avatarGiorgi Kostiuk

Crypto Analysis: Price Predictions for Hyperliquid, SUI and BlockDAG's Partnership with Seattle Seawolves

chest

An overview of price forecasts for Hyperliquid and SUI, and BlockDAG's partnership with the Seattle Seawolves in the cryptocurrency world.

user avatarGiorgi Kostiuk

Elon Musk Launches the "America Party" to Challenge the U.S. Two-Party System

chest

Elon Musk has announced the establishment of the "America Party," aimed at key electoral districts in the U.S.

user avatarGiorgi Kostiuk

How the End of Ripple’s Escrow Program Will Impact the XRP Market

chest

This article explores the end of Ripple's escrow program and its potential impact on XRP distribution.

user avatarGiorgi Kostiuk

TON's Golden Visa Program in UAE Through Toncoin Staking

chest

TON launches a Golden Visa program in UAE allowing residency via Toncoin staking, marking a unique approach in residency acquisition.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.