Preface In 2023, the exploration of central bank digital currency (CBDC) has gained significant momentum, with over 100 countries, representing more than 95% of global gross domestic product (GDP), actively engaging in research, development, pilots or fully-launched CBDC initiatives. This exponential increase in exploration highlights the growing recognition of CBDCs as a transformative tool in the future of digital payments. To ensure the successful implementation of CBDCs and promote interoperability in both domestic and cross-border payment systems, global coordination becomes paramount. It is essential to prioritize having open and regular dialogues between central banks and the private sector about their CBDC journey and experiences. Building upon previous work of the Digital Currency Governance Consortium (DCGC), the World Economic Forum held the CBDC Regional Roundtable series to allow for multistakeholder dialogues on the current state of CBDCs and the areas that require further inquiry. Roundtables were held starting in Spring 2022 in Latin America and the Caribbean, Sub-Saharan Africa, the Middle East and North Africa, AsiaPacific, Europe and North America. The discussions brought together representatives from the public and private sectors to understand CBDCs from their respective perspectives and lessons that can be learned from CBDC experiments and pilots in different regions. These dialogues promoted knowledge sharing across regions with the aim of encouraging globally interoperable CBDC systems. In the CBDC space, further work is required to determine the principles and standards to which sovereign CBDC designs would need to adhere to support efficient payments. In an effort to push forward the conversation on principles, this publication gathered insights from each of the regional discussions in order to identify unique aspects from each jurisdiction that are affecting the design process. In addition to identifying the distinct aspects per region, the discussions surfaced areas of alignment between jurisdictions. With this input, along with other research, this paper sets out a series of interoperability principles that can form a basis for interoperable CBDCs. By emphasizing global coordination, promoting knowledge sharing and establishing guiding principles, the CBDC ecosystem can advance in a harmonized manner, enabling efficient and interconnected digital payment systems. As countries continue their exploration of CBDCs, collaboration and the pursuit of interoperability will be instrumental in realizing the full potential of this transformative technology. June 2023 Central Bank Digital Currency Global Interoperability Principles Sandra Waliczek Centre Curator, Blockchain and Digital Assets, World Economic Forum Central Bank Digital Currency Global Interoperability Principles 3
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