Most central banks without CBDC mandate engaged in retail projects
Only one in three banks has a legal mandate for CBDC issuance, but many are still working on digital currency
Over three-fifths of central banks without a legal mandate to issue a central bank digital currency are nevertheless involved in retail CBDC projects, data from the Fintech Benchmarks 2025 reveals.
Some 64.7% of 17 institutions with no CBDC issuance mandate say they have retail CBDC work in progress. Just over a third (35.3%) say they are engaged in a wholesale CBDC project. However, central banks with powers to issue a CBDC are more likely to be involved in retail CBDC (77.8%) and wholesale
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