A recent study conducted by the Atlantic Council, an American think tank, reveals that as of June 2023, 130 countries globally are participating in Central Bank Digital Currency (CBDC)-related initiatives. 11 of these nations, including several Caribbean countries and Nigeria, have already introduced their own CBDCs. Sweden, leading the pack, has actively initiated trial operations for its CBDC, indicative of significant progress amongst G20 member nations in this innovative financial technology sector.