PwC: 80% of countries are considering issuing their own digital currencies

The company believes that CBDC will speed up cross-border transactions and benefit the economy

05.04.2022 - 12:20

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What’s new? The analysts at the consulting company PwC stated that 80% of central banks around the world are exploring the possibility of issuing their own digital currencies (CBDC). PwC believes CBDCs are more “mature” than decentralized cryptocurrencies because they can be used by public financial institutions. Central banks’ digital currencies can speed up cross-border payments and benefit the global economy, according to a PwC report.

PwC’s report

What else does the report say? The analysts conducted an analysis of stablecoins. They noted that private coins pegged to fiat currencies will continue to evolve and exist alongside CBDCs. The report says that in early 2022, the capitalization of the stablecoin market reached $190 billion. PwC added that “regulation will only strengthen the importance and give credence to the role that stablecoins will play.”

China launched the second phase of the digital yuan testing in early April. The UK Ministry of Finance is also considering recognizing stablecoins as a means of payment.

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