CBDC stablecoins in cross-border payments 2023

Central bank respondents to a 2023 survey stated that linking real-time payment systems held the most promise to make cross-border payments more efficient. This was different from the response given the year before, when CBDC (central bank digital currencies) topped the survey results. The potential of such digital variants of existing FX, such as the U.S. dollar or the euro, was regarded higher in 2022 than other trends. That said, the survey did observe several hurdles remained for CBDC, such as potential legal issues or technical implementations. It adds that "simply launching a CBDC is unlikely to solve many of the challenges that cross-border payments face." Similar concerns were raised about stablecoins regarding the regulatory environment.

Key avenues that central bank consider to have the most promise to improve cross-border payments in 2022 and 2023

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Release date

December 2023

More information

Region

Worldwide

Survey time period

2022 and 2023

Number of respondents

35 respondents

Special properties

Central banks; Two separate survey releases have been combined by Statista. See the "Details" tab for more information

Method of interview

Questionnaire

Supplementary notes

The source does not provide information regarding the type of survey conducted or the exact date when the survey was held.

This question was phrased by the source as follows: "What do you think is the most promising avenue to improve cross-border payments?" The question was the same for both 2022 and 2023, although the options the respondents could choose had slightly changed.

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