The Future of Cross Border Payments for Central Banks

FUTURE OF CENTRAL BANKS’ CROSS BORDER PAYMENTS 80% of Central Banks Intend to Work With Outside Payment Service Providers such as RIPPLE/XRP; not CBDC: SURVEY A growing proportion of central banks expect to issue a central bank digital currency within three to five years, but doing so will require the assistance of a variety of different private sector partners, OMFIF’s 2023 survey of central banks finds. Central banks have, by and large, already enlisted the aid of technology companies and commercial banks in their CBDC design journeys, but payment service providers are set to take on a much more prominent role. Only 45% of central banks…