Central banks split on whether CBDC will impact seigniorage
Some respondents see seigniorage depending on CBDC design choices
Just over half of respondents to the Fintech Benchmarks 2025 are of the view that central bank digital currency will have no influence on their seigniorage income.
Ten of 18 institutions that provided data on the question expect CBDC to have no effects on the profits they gain from issuing currency in their jurisdictions.
Those that expect an impact generally suggest the net effect is likely to be positive. The exact impact will depend on the extent of cost savings relative to banknote production
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