CBDC Transaction Value to Surge and Domestic Payment Proportion to Decrease, Says Juniper Research

03/14/2023 14:35 • Daily Digest • 110 views

On March 14, according to Juniper Research, the total annual value of transactions using the Central Bank Digital Currency (CBDC) will increase from US $100 million to US $213 billion in 2030. In addition, with the development of cross-border CBDC payment system, the proportion of domestic CBDC payment in the total transaction volume will decrease from “nearly 100% in the current pilot stage” in 2023 to 92%.

The global CBDC transaction volume will reach US $213 billion by 2030

Analysis based on this information:

According to Juniper Research, the Central Bank Digital Currency (CBDC) transaction value is expected to surge from US $100 million in 2023 to US $213 billion in 2030. This staggering growth rate is due to the increasing adoption of CBDCs worldwide. Central banks across the globe have initiated the development of their digital currencies, and some have already launched their pilots with great success. The research further predicts that the development of cross-border CBDC payment systems will play a vital role in driving this growth.

The report also sheds light on the changing proportion of domestic CBDC payments in the total transaction value. Currently, in the pilot stage, domestic CBDC payments account for nearly 100% of the total transaction volume. However, with the development of cross-border CBDC payment systems and increased adoption, this proportion is projected to decline to 92% by 2030.

The research suggests that this decline will be attributed to the expected rise of cross-border payments. Previously, cross-border payments were heavily reliant on correspondent banking services, which were expensive and time-consuming. However, with the introduction of CBDCs, cross-border payments are expected to become more seamless, faster, and more cost-effective.

Moreover, CBDCs can overcome the challenges associated with making global transactions, such as exchange rate fluctuations and regulatory barriers. CBDCs could facilitate frictionless transactions and reduce the risks associated with foreign exchange transactions, which can lead to greater economic opportunities globally.

In conclusion, the report highlights the expected surge of CBDC transaction value and the decreasing proportion of domestic CBDC payments, as cross-border CBDC payment systems gain traction. CBDCs will revolutionize the way the world conducts transactions, leading to faster, cheaper, and more secure payments. As we move towards a digitally-driven world, CBDCs are essential in ensuring that the global economy remains stable and inclusive.

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