A recent study conducted by the analytics company Juniper Research estimated that payments via central bank digital currencies (CBDCs) could reach $213 billion by 2030.
The firm believes governments across the globe will use the product to boost financial inclusion and improve the monetary condition of emerging economies.
A Possible Boom of CBDC Transactions
Juniper Research experts analyzing the fintech and payments market believe CBDC transactions could skyrocket from $100 million in 2023 to $213 billion by 2030 (a staggering 213,000 increase).
The specialists said the financial product is still in its early days, adding that global centralized authorities will focus on it to improve digital settlements and enable additional monetary services. However, they might also use it to obtain control over the consumers’ finances and supervise their activities.
The research further determined that by 2030, 92 of the total value transacted via CBDCs will be paid locally. At a later stage, the tool could start settling cross-border settlements. Report author Nick Maynard commented: