Spotlights
A selection of the programmes that matter most for households and businesses. Statuses change quickly, so always check the central bank’s own site before acting.
The European Commission proposed the regulation in June 2023. Parliament backed talks with the Council in July 2026. A pilot is possible in 2027, with first issuance targeted for 2029.
Design: Around €3,000 per person is discussed; online and offline versions are supported; basic use would be free; conditional payments are allowed but fully programmable money is ruled out.
Consulted on in February 2023, with more than 50,000 responses. The Digital Pound Lab opened in August 2025 so firms can test use cases. Next steps are expected in 2026 and any launch needs primary legislation.
Commitments: Privacy by design, no government access to personal data, no programming or spending restrictions, and cash remains available.
By far the largest CBDC in use. In January 2026 it changed from digital cash to digital deposit money: verified wallet balances earn interest at demand deposit rates, sit on commercial banks’ balance sheets and are covered by deposit insurance.
Scale: 3.48 billion transactions worth ¥16.7 trillion by November 2025.
The administration has ruled out a retail digital dollar and the House has twice passed a ban. Policy focus has moved to regulated private stablecoins under the GENIUS Act. The New York Fed still takes part in BIS Project Agorá.
Brazil tested a blockchain platform for four years, found privacy hard to guarantee, and relaunched Drex as conventional wholesale infrastructure for credit collateral. Retail use is left for a later, undated phase.
The Bahamas, Jamaica and Nigeria show that launching is the easy part. Combined circulation of the Sand Dollar, DCash and JAM-DEX remains a tiny share of currency in circulation. Common blockers include merchants without compatible terminals, banks with little commercial reason to integrate, and users happy with existing apps.