Wholesale CBDCs

Wholesale CBDCs are restricted to financial institutions for interbank settlements, large-value transactions, and securities settlement. They improve efficiency in the financial infrastructure rather than replacing cash.

Feature	Retail CBDC	Wholesale CBDC
Target Users	General public, consumers, businesses	Financial institutions, banks
Transaction Size	Small to medium (retail payments)	Large value (interbank settlements)
Access	Universal public access	Restricted to authorized institutions
Primary Goal	Cash digitization, financial inclusion	Settlement efficiency, risk reduction
Examples	China e-CNY, EU Digital Euro	Australia eAUD (pilot)

Wholesale CBDCs

Key Use Cases

Wholesale CBDCs Programs

China e-CNY (Digital Yuan)

Brazil Drex (Digital Real)

Australia eAUD (Digital Australian Dollar)

UAE Digital Dirham (e-AED)

Saudi Arabia Digital Riyal

Singapore Digital SGD (Project Orchid)

Switzerland Wholesale Digital Franc (Project Helvetia)

South Africa Digital Rand

Indonesia Digital Rupiah (Project Garuda)

Philippines CBDC-Ph (Project Agila)

Comparison: Retail vs Wholesale

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