“A modern CBDC at the wholesale level will be developed quite fast and will be a reality quite soon in probably most of the countries of the world,” said Agustin Carstens, General Manager of the BIS, the central bank of central banks.
He argued that a wholesale central bank digital currency (wholesale CBDC) limited to usage by banks doesn’t have the many complications that exist with retail CBDCs that consumers can access. Mr Carstens was talking during the DC Fintech Week.
In June, the BIS formally launched its concept of a Unified Ledger in which tokenized bank deposits and wholesale CBDC coexist on the same infrastructure, enabling the settlement of interbank payments using a wholesale CBDC. At the time, Ledger Insights asked the BIS Head of Research Hyun Song Shin about the timing of a Unified Ledger launch, proposing 2027. Mr. Shin said it could happen sooner than that.
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