More than 80% of the world’s central banks are exploring digital currencies, according to a 2024 survey by the Bank for International Settlements. Of the 86 central banks surveyed, 94% were engaged in some form of CBDC research, and more than 60% were in advanced stages of development or pilot testing. China’s digital yuan has processed more than $250 billion in cumulative transactions since its pilot began in 2020, making it the most deployed CBDC in the world, according to the People’s Bank of China. Why Central Banks Are Moving to Digital Currencies Declining cash usage is the primary motivator….