Analysis
Asian CBDCs: in search of added value
Worldwide, 130 countries representing 98% of global gross domestic product, are now exploring CBDCs. But thus far, only four developing countries have introduced CBDCs but the adoption rates have been disappointing. Asian countries are experiencing similar challenges.
Asia Pacific leads digital currency explorations
The Asia Pacific region is at the forefront of exploring central bank digital currencies. Not only major economies in the region are in advanced explorations, but emerging economies and low-income nations are also showing rising interest. However, only two countries have indicated that they are very likely to issue a retail CBDC in the near term.
The race for SWIFT alternatives
The recent cutoff of sanctioned Russian banks from SWIFT has sparked a race for alternative cross-border payment channels.