A new study by Juniper Research has forecast that, by 2031, the number of global payments made using CBDCs (Central Bank Digital Currencies) will reach 7.8 billion, up from 307.1 million in 2024.
This remarkable 2,430% growth will be driven by central banks seeking to safeguard monetary sovereignty in the face of card-network dominance and growing stablecoin popularity. Collaborative projects such as mBridge and Project Icebreaker, which seek to connect national CBDCs, will leave nations less reliant on established payment rails.
CBDCs are central bank issued digital versions of existing fiat currencies.
Demand for Simplified Cross-Border Payments Builds CBDC Momentum
The research forecast that, through the use of CBDCs and stablecoins, cross-border payments will save $45 billion by 2031. Remittance senders and global businesses are currently burdened by high fees and limited visibility. CBDCs and stablecoins streamline transfers by bypassing costly intermediaries, enabling direct transactions on decentralised or central bank-controlled networks.
Research author Lorien Carter commented: “Emerging payment technologies, like CBDCs and stablecoins, will streamline international payments. These innovative technologies will help grow the digital economy and increase global financial inclusion by reducing the reliance on the US dollar for international settlements”.
Prioritise Interoperability While Building CBDCs
To fully unlock cross-border growth, the study emphasises that interoperability between different CBDCs is essential. CBDC vendors must participate in projects pioneered by global organisations such as BIS, allowing them to test their infrastructure and contribute to the design of multilateral interoperability standards. Without this collaboration, the CBDC ecosystem risks fragmentation, resulting in ‘digital islands’ which fail to realise the efficiency of cross-border payments.
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An extract from the new report, Global CBDCs and Stablecoins Market 2024-2031, is now available as a free download.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
