A growing proportion of central banks expect to issue a central bank digital currency (CBDC) within three to five years, but doing so will require the assistance of a variety of different private sector partners, according to a survey of central banks.The Official Monetary and Financial Institutions Forum, a London-based think tank, published its survey findings Wednesday in its Future of Payments report.Central banks have, by and large, already enlisted the aid of technology companies and commercial banks in their CBDC design journeys, but payment service providers are set to take on a much more prominent role.Only 45% of central banks are currently working with payment service providers, but more than 80% say they intend to. Almost half (47%) of central banks believe interlinking fast payment systems is the most promising avenue to solve issues in cross-border payments. A small portion, 17%, said they aim to decrease the share of cross-border trade settled in dollarsBy contrast, however, only around 20% of banks say they expect to work with marketing and promotion providers — perhaps surprising given that low adoption was the most common main concern.The areas in which most central banks say they have not yet enlisted help but intend to do so are interoperability, cross-border connectivity and offline payments. The survey found consensus this final challenge would be the most difficult.The survey found 41% of central banks expect to launch a CBDC by 2028. Also, 38% of banks said their pursuit of a CBDC was motivated by a desire for financial inclusion from emerging markets.However, banks also expressed concerns and doubts.46% of central banks said low adoption was their biggest concern when considering a CBDC, but only 21% intend to work with marketing advisers66% of central banks are ‘unsure’ that blockchain has a role in the future of payments 72% of central banks are unsure that blockchain or distributed ledger technology will be used in future payment systems.The survey said $11 trillion was transacted in stablecoins in 2022, suggesting growing familiarity and comfort with using digital currency.OMFIF is an independent think tank for central banking, economic policy and public investment, providing a neutral platform for public and private sector engagement worldwide. With teams in London and the US, OMFIF focuses on global policy and investment themes relating to central banks, sovereign funds, pension funds, regulators and treasuries. Global public investors with investable assets of $43 trillion are at the heart of this network.