Central Banking · 58 pages
CBDC Adoption Landscape
Wholesale, retail, and cross-border experiments
Published April 1, 2025
Abstract
A taxonomy of the global CBDC landscape across wholesale, retail, and cross-border projects, with implications for commercial banks and payment infrastructure providers.
Key findings
- ▍Wholesale CBDC and tokenized deposits are converging on similar use cases.
- ▍Retail CBDC adoption remains concentrated in specific country contexts.
- ▍Cross-border CBDC projects (mBridge, Agora) are reshaping correspondent banking economics.
Wholesale CBDC
Tokenized interbank settlement and its overlap with tokenized deposits.
Retail CBDC
Design tensions around privacy, intermediation, and monetary policy transmission.
Cross-border
Multilateral pilots and their implications for SWIFT and correspondent banking.
Sources & References
- Bank for International Settlements - Payments, Clearing & Settlement
- BIS Innovation Hub - Project Agora & CBDC research
- U.S. Federal Reserve - Payments Research
- International Monetary Fund - Fintech Notes
External references are cited for context and discovery. CashlessTechnology.com is not affiliated with the listed organizations unless explicitly stated.