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CBDCs around the world

Some countries launched one, some are piloting, some are preparing, and one big one said no. Here's the map.

Over a hundred countries have explored a central bank digital currency. Only a few have actually launched one. Here are the big stories.

Launched

The Bahamas: the Sand Dollar. Launched in 2020, the first nationwide retail CBDC. Uptake has been modest.

Nigeria: the eNaira. Launched in 2021. Adoption stayed very low even after the government pushed people towards it during a cash shortage.

Jamaica: JAM-DEX. Launched in 2022, with incentives to get people to sign up.

Big pilots

China: the e-CNY, or digital yuan. The largest CBDC pilot in the world, running in many cities and used for huge numbers of transactions. It's designed with "controllable anonymity": small payments get some privacy, while the central bank keeps the ability to see more.

India: the e-rupee. Retail and wholesale pilots have been running since 2022.

Preparing

The eurozone: the digital euro. The ECB is preparing it, with a possible launch around the end of the decade if the law passes. See the digital euro explained.

The UK: the digital pound. The Bank of England has been studying a design without committing to launch one.

Said no

The United States. In January 2025 an executive order barred federal agencies from creating a CBDC, and the House later passed a bill against one. For now, a digital dollar from the Federal Reserve is off the table.

The pattern

Where CBDCs launched, ordinary people mostly didn't rush to use them. Where they're still on the drawing board, the fight is mostly about privacy and control.

FAQ

Which country launched the first CBDC?

The Bahamas, with the Sand Dollar, in 2020.

Does the US have a CBDC?

No. Work on a federal CBDC was banned in 2025.

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