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PWC: More Than 80% Of Central Banks Are Considering Launching CBDC

By WebsCryptoApril 5, 20221 Min Read
PWC: More Than 80% Of Central Banks Are Considering Launching CBDC
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On April 5, analysts at accounting firm PricewaterhouseCoopers released a report saying that more than 80% of central banks are considering launching a central bank digital currency (CBDC). “CBDC will make the financial services industry more efficient, lower cost and support 24/7 cross-border payments. We expect that CBDC will greatly benefit cross-border transactions and economies in all relevant jurisdictions.”

Overall, retail CBDC projects have reached a more mature level than wholesale projects, the report noted. Additionally, the report states that stablecoins reached a market cap of around $190 billion in early 2022 and will continue to grow as these tokens offer many of the same benefits as CBDCs without monitoring.

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Transparency around reserve assets, especially fiat-backed stablecoins, will be a major concern going forward as the asset class continues to grow and regulation tightens, analysts added.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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