Global Push for Digital Currencies Sees Fast Growth

Countries worldwide are rapidly exploring central bank digital currencies (CBDCs). Currently, 134 nations, representing 98% of the global economy, are in various stages of CBDC development. Almost half of these nations are in advanced stages, including China, the Bahamas, and Nigeria, which are seeing increased usage.

The Atlantic Council’s recent research reveals that 44 countries are piloting CBDCs, up from 36 last year. This surge responds to declining cash usage and competition from cryptocurrencies like bitcoin and Big Tech. The Bahamas, Jamaica, and Nigeria have already launched their CBDCs and reported substantial increases in usage recently.

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