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The Race to a Digital Currency

Rate Captain by Rate Captain
March 22, 2021
in Cryptocurrency, Featured
Reading Time: 1 min read
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AlsoRead

Bitcoin Volatility Turns into $12 Million Windfall for Yield Basis in Q1 2026

Bitcoin Plunges to 16-Month Low Despite Trump’s Vocal Crypto Support

Nigeria’s Crypto Transactions Hit $96bn as SEC Tightens Oversight

CountryDigital Currency Status
BahamasLaunched a digital currency, called the “Sand Dollar,” in 2020
BrazilExpects “digital Real” to enter circulation in 2022
CanadaDeveloping the infrastructure needed for a digital currency but no current plans to launch one
ChinaPiloting a digital yuan in major cities with the goal of wider distribution in 2022
Eurozone*Researching potential “digital euro” with goal of deciding on whether to move forward as soon as April
JapanPlans experiments with a digital currency this spring
RussiaPlans pilot of a digital currency this year
SwedenRecently extended a pilot of its “e-krona” into 2022
UKHas expressed ambition to develop a digital currency but still in research phase
U.S.Performing research and experimentation with possible technologies but no decision on issuance or timeline
VenezuelaIn 2018 launched the digital “Petro” backed by oil reserves but it had design flaws and is considered a failure

Adopted from Bloomberg

Previous Post

Federal Reserve’s Digital Dollar Momentum Worries Wall Street

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