India, Ukraine, and Russia Lead Retail CBDC Development, with Launches Expected in Coming Years

The 2023 PwC report indicates that despite the already live CBDCs of the Bahamas, Jamaica, and Nigeria, retail CBDC projects in India, Ukraine, and Russia are making rapid progress with formal announcements to launch within the next few years. India is at the forefront with its digital rupee development, Ukraine is accelerating its development in response to military conflict, and Russia is speeding up its CBDC project as a countermeasure to global sanctions​​.