各国央行正在放弃 CBDC，转而支持代币化和 TradFi

尽管研究活动稳步增加，但央行官员对央行数字货币（CBDC）的热情却在迅速下降

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.

一项新的调查发现，尽管研究活动稳步增加，但央行行长们对央行数字货币（CBDC）的热情却在迅速下降。

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.

官方货币和金融机构论坛 (OMFIF) 智库的年度支付未来调查现已进入第八个年头，该调查对各国央行改善跨境支付的优先事项以及对稳定币和 CBDC 等新兴技术的兴趣进行了调查。

CBDCs only look good to some central banks

CBDC 仅对某些央行有利

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.

互联即时支付系统，例如相对较新的美国 FedNow，是迄今为止央行中最受欢迎的改善跨境支付的解决方案。几乎一半 (47%) 的受访者选择了这一选项，这仅比去年的结果略有增加。

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

与去年一样，稳定币的投票率为 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 的排名从 2023 年的 31% 下降到 2024 年的 13%。这可能反映了某些央行对 CBDC 更大兴趣的反应。

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.

当国际清算银行（BIS）于 10 月份退出 mBridge 项目时，此举被广泛解读为对其对国际制裁构成威胁的反应，因为中国和其他与该项目关系不密切的国家在该项目中占据主导地位。西方。

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 否认其对 mBridge 项目的决定具有政治性。报告得出的结论是，美元将继续成为首选结算货币。只有 11% 的央行表示正在减少美元的使用：

Source: Digital Money Institute

资料来源：数字货币研究所

Some central banks have dropped out of the digital currency race

一些央行退出了数字货币竞赛

Tokenization and TradFi are looking better

代币化和 TradFi 看起来更好

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.

大型国际银行为小型本地银行提供国际结算服务的代理银行系统多年来一直在衰退。随着了解您的客户/反洗钱措施变得更加复杂，该过程变得越来越昂贵。

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 消息传递标准不按计划实施，其衰退只会加速。调查发现，新标准的采用可能会出现明显滞后。

Correspondent banking activity over since 2011. Source: OMFIF

自 2011 年以来的代理银行活动。资料来源：OMFIF

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.”

这或许可以解释央行对代币化的浓厚兴趣，因为代币化可以简化合规检查。超过 40% 的发达市场央行“认为这是有前途的，并预计在未来三到五年内开始开展工作。”

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.

国际清算银行的 Agora 项目是众多为代币化转账开辟道路的项目之一，法国、日本、韩国、墨西哥、瑞士和英国的中央银行以及美国联邦储备银行都参与了该项目。这很大程度上取决于批发 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.

尽管如此，考虑到人们对传统即时支付系统的偏好，跨境支付显然仍将脱离区块链。国际清算银行也为这一选择做好了准备。其 Nexus 项目也依赖于 ISO 20022 标准，正在开发即时支付系统的通用平台。

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