Central banks have been eying the emergence of privately issued digital currencies with a mix of excitement and anxiety and some began experimenting with their own versions of crypto: central bank digital currencies (CBDCs). Advocates say CBDCs offer an alternative to private digital currencies that will enable central banks to retain their control over national monetary supplies, better combat money laundering and fraud, and even advance financial inclusion.

But are CBDCs really the game-changer for financial inclusion that many claim? What are the key enablers and constraints to CBDCs advancing financial inclusion? And how are central banks thinking about designing CBDCs to ensure that they achieve their goals?

This is the fourth episode in CGAP's new podcast, Inclusive Finance Frontiers.

Featured Voices

- Kwame Oppong, Head of Fintech and Innovation, Bank of Ghana

- Mahesh Uttamchandani, Global Practice Manager for the World Bank Group’s Financial Inclusion, Access and Infrastructure between January 2018 and September 2022 and currently the World Bank’s Practice Manager for Digital Development in East Asia and the Pacific

- Nana Yaa Boakye-Adjei, Senior Consultant, the World Bank between May 2020 and January 2023

- Tanja Hessdörfer, Head of Sales and Business Development CBDC at Giesecke+Devrient

- Mehmet Kerse, Senior Consultant on Digital Finance and Financial Inclusion, CGAP