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Central Banks Are Getting Serious About Digital Money: Map

Digital Ambitions

The rise of Bitcoin and other cryptocurrencies has prompted the greatest push yet among central banks to develop their own digital currencies. In 2020, the Bahamas launched its sand dollar to make payments more efficient across the archipelago’s 700 islands, and China is likely to be one of the next to follow suit after numerous consumer pilot tests. The topic will be a key focus at a Bank for International Settlements event this week, where central bank officials are set to discuss the future of digital money.