NEWS
New research finds CBDC transactions to exceed US $ 213 billion by 2030
The new study from Juniper Research has found the value of payments via CBDCs ( Central Bank Digital Currencies ) will reach US $ 213 billion annually by 2030 – up from just US $ 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 increase control over how digital payments are made . CBDCs will improve access to digital payments , particularly in emerging economies , where mobile penetration is significantly higher than banking penetration .
The research found by 2030 , 92 % of the total value transacted via CBDCs will be paid domestically . This reflects a change from almost 100 % during current pilot stages , as of 2023 . Since CBDCs are issued by central banks , they will be closely targeted to domestic payment challenges initially , with cross-border payments coming later , as systems become established and links are made between CBDCs used by individual countries .
Nick Maynard , author of the report , said : “ While cross-border payments 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 .”
Brokers facilitate £ 45 billion of borrowing for UK ’ s small businesses in 2022
Lending to small businesses via brokers jumped 10 % in 2022 to £ 45 billion , according to the annual survey results from the National Association of Commercial Finance Brokers ( NACFB ) – one of the UK ’ s largest independent trade bodies for commercial finance intermediaries .
The survey , which features insight from the trade body ’ s community of more than 2,000 commercial brokers and 160 lenders , has revealed an average loan size of £ 563,000 in 2022 , up 23 % on 2021 . Of the small businesses successfully funded , an average of 29 % had been refused capital elsewhere .
Of the commercial lenders that operate both direct and brokerled business models , 70 % of their new business came via the broker channel in 2022 . The survey also reveals that lenders most commonly declined loan applications because they viewed a sector as ‘ too risky ’. The industries generating the largest proportion of loan enquiries in 2022 were property at 44 %, followed by construction at 13 % and manufacturing at 9 %.
Further findings reveal 88 % of UK enterprises that borrowed via an intermediary were driven by growth ambitions , whereas only 12 % of total borrowing was for reasons that imply more distressed factors .
6 www . intelligentfin . tech