Bahamas, Jamaica, and Nigeria pioneer CBDC adoption
As 130 economies explore CBDCs, the Bahamas, Jamaica, and Nigeria have fully launched their versions, while G20 nations proceed cautiously. According to the Atlantic Council Central Bank Digital Currencies (CBDC) Tracker updated on Aug. 16, only three countries have fully launched their CBDCs: the Bahamas, Jamaica, and Nigeria. Eight advanced economies, including China and the UK, have also conducted CBDC pilots. In a report provided by CoinGecko, emerging nations like the Bahamas and Nigeria are among a handful of nations that have strategically introduced CBDCs to enhance financial inclusivity and digitize their economic landscapes. The report notes that their economies’ relatively compact size and less intricate financial systems have facilitated quicker adoption rates. The study also highlighted that the utilization of Nigeria’s E-naira has been modest, with an estimated uptake of merely 6% of the population as of March 2023. You might also like: Ni...