Types of Digital Currency

Digital currencies come in several forms, each with different characteristics, backing, and use cases.

Countries with Live CBDCs

The following countries have fully launched Central Bank Digital Currencies available to the public:

Global CBDC Development Status

Over 130 countries are exploring CBDCs. Here's the comprehensive status by country:

Status definitions: Live = publicly available; Pilot = testing with limited users; Research = exploring feasibility; No plans = not pursuing.

CBDC Development Timeline

Comparison: Transaction Speed

How different payment methods compare for cross-border transactions:

Implications for Currency Exchange

Potential Benefits

CBDCs could enable instant, low-cost cross-border payments. Central banks are exploring interoperability projects that could allow direct CBDC-to-CBDC exchange, potentially reducing the need for correspondent banking and lowering fees.

What This Means for Travellers

In the future, you may be able to exchange currencies instantly using CBDCs with minimal fees. However, widespread adoption is still years away, and traditional exchange methods will remain important for the foreseeable future.

Current Recommendation

For now, the best options for currency exchange remain digital-first providers like Wise and Revolut, which already offer near-instant transfers at competitive rates. See our methodology for how we compare providers.