Unlocking the potential of a CBDC ecosystem


Central bank digital currencies are emerging worldwide, bringing new capabilities and opportunities to financial systems. Although central banks are the driving force behind CBDCs, the development of a coherent ecosystem in co-operation with private stakeholders is also essential for success. A report, published by Giesecke+Devrient and OMFIF, sheds new light on how to create a thriving CBDC ecosystem.

This report looks into ecosystem participants and its potential opportunities. It also explores the challenges faced by central banks in realising the CBDC ecosystem, as well as its value to private sector stakeholders and individuals. This report highlights the organisations involved in the CBDC ecosystem, the benefits such a network could bring and the practical challenges that must be addressed to bring about these advantages.

Key findings:

  • Central banks will operate the core system while private sector intermediaries provide new services to facilitate payments and conduct compliance.
  • Industrial and real economy players along with individual end users and merchants stand to benefit significantly from the new ecosystem.
  • CBDCs can deliver programmable payments, which should unlock valuable benefits for businesses, citizens and governments.
  • CBDCs can play an important role in facilitating the settlement of digital assets, supporting the growth of the digital asset ecosystem.
  • Ensuring interoperability among CBDCs and existing payment systems will require collaboration between technical service providers and regulators.
  • All ecosystem players will need to participate in the communication effort to educate end users.


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