各國央行正在放棄 CBDC，轉而支持代幣化和 TradFi

儘管研究活動穩定增加，但央行官員對央行數位貨幣（CBDC）的熱情卻在迅速下降

Central bankers are showing rapidly decreasing enthusiasm for central bank digital currency (CBDC), despite the steady increase in research activity, a new survey has found.

一項新的調查發現，儘管研究活動穩定增加，但央行總裁們對央行數位貨幣（CBDC）的熱情卻在迅速下降。

The Official Monetary and Financial Institutions Forum (OMFIF) think tank’s annual Future of Payments survey, now in its eighth year, polls central banks on their priorities for improving cross-border payments, and their appetite for emerging technologies like stablecoins and CBDCs.

官方貨幣和金融機構論壇 (OMFIF) 智庫的年度支付未來調查現已進入第八個年頭，該調查對各國央行改善跨境支付的優先事項以及對穩定幣和 CBDC 等新興技術的興趣進行了調查。

CBDCs only look good to some central banks

CBDC 僅對某些央行有利

Interlinking instant payment systems, such as the comparatively new US FedNow, is by far the most popular solution among central banks for improving cross-border payments. Almost half (47%) of respondents chose this option, which is only a tiny increment above last year’s results.

互聯即時支付系統，例如相對較新的美國 FedNow，是迄今為止央行中最受歡迎的改善跨境支付的解決​​方案。幾乎一半 (47%) 的受訪者選擇了這個選項，這僅比去年的結果略有增加。

Stablecoins received a 0% vote, just as last year.

與去年一樣，穩定幣的投票率為 0%。

CBDCs fell in this ranking from 31% in 2023 to 13% in 2024. This may reflect a reaction to greater interest in CBDC in certain central banks.

CBDC 的排名從 2023 年的 31% 下降到 2024 年的 13%。

When the Bank for International Settlements (BIS) pulled out of Project mBridge in October, the move was widely interpreted as a reaction to the threat it poses to international sanctions because of the dominance in the project of China and other countries not closely aligned with the West.

當國際清算銀行（BIS）於10 月退出mBridge 計畫時，此舉被廣泛解讀為對其對國際制裁構成威脅的反應，因為中國和其他與該計畫關係不密切的國家在該計畫中佔據主導地位。

The BIS denied that its decision on Project mBridge was political. The report concluded that the US dollar will continue to be the preferred settlement currency. Only 11% of central banks said they were reducing their use of the dollar:

BIS 否認對 mBridge 計畫的決定具有政治性。報告的結論是，美元將繼續成為首選結算貨幣。只有 11% 的央行表示正在減少美元的使用：

Source: Digital Money Institute

資料來源：數位貨幣研究所

Some central banks have dropped out of the digital currency race

一些央行退出了數位貨幣競賽

Tokenization and TradFi are looking better

代幣化和 TradFi 看起來更好

The correspondent banking system, in which large international banks provide international settlement services for small local banks, has been in decline for years. The process is becoming more expensive as Know Your Customer/Anti-Money Laundering measures become more complex.

大型國際銀行為小型本地銀行提供國際結算服務的代理銀行系統多年來一直在衰退。隨著了解您的客戶/反洗錢措施變得更加複雜，這個過程變得越來越昂貴。

Its decline will only speed up if the new ISO 20022 messaging standard is not implemented on schedule. The survey finds that a significant lag in the new standard’s adoption is likely.

如果新的 ISO 20022 訊息傳遞標準不按計畫實施，其衰退只會加速。調查發現，新標準的採用可能會出現明顯延遲。

Correspondent banking activity over since 2011. Source: OMFIF

自 2011 年以來的代理銀行活動。

That may explain the lively interest among central banks in tokenization, which could streamline compliance checks. Over 40% of central banks in developed markets “think it is promising and expect to begin work on it in the next three to five years.”

這或許可以解釋央行對代幣化的濃厚興趣，因為代幣化可以簡化合規檢查。超過 40% 的已開發市場央行“認為這是有前途的，並預計在未來三到五年內開始開展工作。”

The BIS’s Project Agora, in which the central banks of France, Japan, South Korea, Mexico, Switzerland and the United Kingdom, along with the United States Federal Reserve Banks are participating, is one of many projects blazing the trail toward tokenized transfers. It crucially depends on the use of wholesale CBDCs.

國際清算銀行的 Agora 計畫是眾多為代幣化轉帳開闢道路的計畫之一，法國、日本、韓國、墨西哥、瑞士和英國的中央銀行以及美國聯邦儲備銀行都參與了該計畫。這很大程度取決於批發 CBDC 的使用。

Nevertheless, given the preference for legacy instant payment systems, it seems clear that cross-border payments will remain off the blockchain. The BIS is prepared for that option too. Its Project Nexus, which also depends on the ISO 20022 standard, is developing a common platform for instant payment systems.

儘管如此，考慮到人們對傳統即時支付系統的偏好，跨境支付顯然仍將脫離區塊鏈。國際清算銀行也為這項選擇做好了準備。其 Nexus 專案也依賴 ISO 20022 標準，正在開發即時支付系統的通用平台。

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