CBDCs & Stablecoins: Key Opportunities, Regional Analysis & Market Forecasts 2023-2030

• Market Dynamics: Insights into key trends and market expansion challenges within the development of CBDCs and stablecoins; addressing challenges and financial stability risks posed by the highly technical nature of developing new payment schemes, the potential benefits of new system roll-outs, and analysing use cases. This research also includes a regional analysis on the development level and future prospects for CBDC and stablecoin development in 19 key countries.
• Key Takeaways & Strategic Recommendations: Key opportunities for vendors highlighted across the CBDC and stablecoin issuers' landscape; making for an important reading for key stakeholders with key stablecoins statistics.
• Benchmark Industry Forecasts: 8-year forecasts are provided for transaction volume and value of stablecoin and CBDC payments, including splits by domestic versus cross-border, and by consumer versus B2B. The data is also split by our 8 key forecast regions and 60 countries:
  • North America:
    • Canada, US
  • Latin America:
    • Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay
  • West Europe:
    • Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK
  • Central & East Europe:
    • Croatia, Czech Republic, Hungary, Poland, Romania, Russia, Turkey, Ukraine
  • Far East & China:
    • China, Hong Kong, Japan, South Korea
  • Indian Subcontinent:
    • Bangladesh, India, Nepal, Pakistan
  • Rest of Asia Pacific:
    • Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam
  • Africa & Middle East:
    • Algeria, Egypt, Israel, Kenya, Kuwait, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates
  • Juniper Research Competitor Leaderboard: Key player capability and capacity assessment for 15 CBDC platform vendors, via the Juniper Research Competitor Leaderboard, featuring the following financial institutions:
    • BITT
    • Consensys
    • eCurrency
    • FIS
    • G+D
    • Hashcash Consultants
    • IDEMIA
    • Industria
    • Mastercard
    • Nahmii
    • Nchain
    • R3
    • Ripple
    • Soramitsu
    • Stellar

1. Which areas of the market will show the most activity up to 2030?
2. Which payment area will be impacted by stablecoins and CBDCs the most and why?
3. Who are the leading vendors in the CBDC space and what are they doing successfully?
4. What is the value of total transactions using stablecoin and CBDC predicted to be by 2030?
5. What challenges will the market and its stakeholders face over the next 8 years?

Interviewed: FIS, G+D, IDEMIA.
 
Case Studied: SWIFT.
 
Included in Juniper Research Competitor Leaderboard: Bitt, ConsenSys, eCurrency, FIS, G+D, HashCash Consultants, IDEMIA, INDUSTRIA, Mastercard, Nahmii, Nchain, R3, Ripple, Soramitsu, Stellar.
 
Mentioned: 2C2P, Aave, Alibaba, Altplus, Ant Group, APPG Blockchain, Aselsan, Asian Development Bank, AWS, B3i, Banco do Brazil, Banco Santander, Bank Negara Malaysia, Bank of Ayudhya, Bank of Canada, Bank of England, Bank of Ghana, Bank of Japan, Bank of Lao PDR, Bank of Thailand, Banque de France, BIS (Bank for International Settlements), BitPay, Bitrust, CAC, Camunda, Capitual, CBRT (Central Bank of the Republic of Turkey), Celo, Cenfri, Central Bank of Eswatini, Central Bank of Nigeria, Central Bank of the Bahamas, Central Bank of the United Arab Emirates, Cipher, Circle, ClearSale, Crunchfish, CTC, Dalio Philanthropies, DataCook, Dell, DepositBook, DLA Piper, Domineum Blockchain Solutions, Eastern Caribbean Central Bank, e-on, Fabraban, Federal Reserve, Finteum, Fireblocks, Flourish, Fundação CPQD, Glocom, Goldman Sachs, Havelsan, Hitachi, Honda, Hong Kong Monetary Authority , Huawei, ICICI Bank, IDFC First Bank, Indetail, Indra, Information Security Research Center, INTEC, Intellect, Itaú Unibanco , ITU, JCB, JD.com, KBC, KDDI, LVL, McDonald's, Mercado Bitcoin, Microsoft, MoneyGram, National Bank of Kazakhstan, NBU (National Bank of Ukraine), Nesi, Nium, Norges Bank, NS Solutions, NTT Data, NYDIG, Odakyu, Ohken, Oliver Wyman, Optage, Orrick, Panasonic, Paylogic, People's Bank of China, Poste Italiane, Quniqa, Radicle Impact, Rakuten, Rebalance Earth, Reserve Bank of Australia, Riksbank, Royal Monetary Authority of Bhutan, RTCore, Samsung, SARB (South African Reserve Bank) , SCSK, Shyft, Siam Commercial Bank, SNB (Swiss National Bank), Société Générale, Soft Space, Sony Financial Holdings, South African Reserve Bank, Standard Bank, Starbucks, State Bank of India, Swedbank, Swiss National Bank, Swiss Re, Sybrin, TecBan, Tencent, Tokuda Bank, Toppan, Tranglo, Travelex Bank, Tubitak Bilgem, UniCredit, Union of Arab Banks, UnionPay, Unisys, Vert, Visa, Wells Fargo, Wirex, Yes Bank.
 

Key Market Forecast Splits
The forecast suite provides transaction volumes, values and potential savings to end users from the use of stablecoins and CBDCs. Data is split by CBDCs and stablecoins, and by the following segments:

• Cross-border B2B Transactions
• Cross-border Consumer Transactions
• Domestic B2BTransactions
• Domestic Consumer Transactions

Geographical splits: 60 countries
Number of tables: 195 tables
Number of datapoints: Over 53,300 datapoints

harvest: Our online data platform, harvest, contains the very latest market data and is updated throughout the year. This is a fully featured platform enabling clients to better understand key data trends and manipulate charts and tables; overlaying different forecasts within the one chart – using the comparison tool. Empower your business with our market intelligence centre, and receive alerts whenever your data is updated.

Interactive Excels (IFxl): Our IFxl tool enables clients to manipulate both forecast data and charts, within an Excel environment, to test their own assumptions using the interactive scenario tool and compare selected markets side by side in customised charts and tables. IFxls greatly increase a client’s ability to both understand a particular market and to integrate their own views into the model.
 

• The value of payments via CBDCs will reach $213 billion annually by 2030, up from just $100 million in 2023. This radical growth of over 260,000%, reflects the early stage of the sector, currently limited to pilot projects.
• Adoption will be driven by governments leveraging CBDCs to boost financial inclusion and to increase their control over how digital payments are made. CBDCs will increase access to digital payments in emerging economies in particular, where mobile penetration is significantly higher than banking penetration.
• By 2030, 92% of the total value transacted via CBDCs will be paid domestically. This reflects a change from almost 100% during the current pilot stages, as of 2023. As CBDCs are issued by central banks, they will be closely targeted at domestic payment challenges initially, with cross-border payments coming later, as systems become established and links are made between CBDCs used by individual countries.
• While cross-border payments are currently have high costs and slow transaction speeds, this area is not the focus of CBDC development. As CBDC adoption will be very country specific, it will be incumbent on cross-border payment networks to link schemes together, allowing the wider payments industry to benefit from CBDCs.
• A lack of commercial product development around CBDCs is a key limiting factor for the current market, with few well-defined platforms for central banks to leverage. Prospective CBDC platform providers should develop a full end-to-end solution, including wholesale capabilities, wallet provision and merchant acceptance, in order to enable the potential of CBDCs to be realised.