Part 2/10:
The discussion kicks off with a survey of recent headlines demonstrating how nations across the globe are testing and deploying CBDCs. Turkey has completed its first CBDC trial, with plans for further testing in 2023. Kazakhstan’s central bank recommends a phased rollout between 2023 and 2025. Brazil appears poised to solidify its economic leadership with a CBDC launch planned for 2024, and Spain is experimenting with wholesale CBDCs.
Perhaps most alarming globally is Nigeria’s recent ban on ATM cash withdrawals over $225 a week—an outright move to push the population toward using the country’s CBDC. Nigeria was among the first countries to introduce a digital currency, highlighting a strategic push to transition away from physical cash.