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News Explorer — Retail CBDCs See Slow Start in China and India; But Cambodia's Project Bakong Has Seen Success

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Jul 19, 5:09 am
Forbes

Retail CBDCs See Slow Start in China and India; But Cambodia's Project Bakong Has Seen Success

Retail adoption of central bank digital currencies (CBDCs) in Asia has been underwhelming. Only China, India, and Cambodia have functioning retail CBDCs, while other countries like Japan and South Korea are conducting pilots. China's digital renminbi (e-CNY) has limited appeal due to an already mature digital payments ecosystem. India's digital rupee (e-rupee) has seen lukewarm interest and declining transaction volumes. Cambodia's Project Bakong, on the other hand, has been successful in attracting retail users and promoting financial inclusion.

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