According to Odaily, a report released on Monday by market research and consulting firm Juniper Research, which focuses on digital technology and innovation, predicts a significant increase in central bank digital currency (CBDC) transactions. The report forecasts that by 2031, the number of global payments made using CBDCs will reach 7.8 billion, a substantial rise from 307.1 million in 2024. This remarkable 2,430% growth is expected to be driven by central banks aiming to maintain monetary sovereignty in the face of the dominance of card networks and the growing popularity of stablecoins.
As of September, 134 countries and currency unions, representing 98% of the global GDP, are exploring the implementation of CBDCs. The report also highlights the significant cost advantages of these digital currencies in international payments. The research predicts that by using CBDCs and stablecoins, cross-border payments could save up to $45 billion by 2031.