In June 2024, the Bank for International Settlements (BIS) released the Embracing Diversity, Advancing Together - Results of the 2023 BIS Survey on Central Bank Digital Currencies and Crypto (hereinafter referred to as "the Report"). The Report highlights that the number of wholesale CBDC pilots significantly increased in 2023, particularly in advanced economies (AEs), although emerging market and developing economies (EMDE) also expanded their wholesale CBDC initiatives. It emphasizes that the interoperability and programmability of wholesale CBDCs require careful consideration. The Report further finds that stablecoins as a more stable alternative to cryptocurrencies, have greater potential to become widely used payment methods. However, without proper design and regulatory measures, the widespread use of stablecoins could have severe implications for the security and efficiency of the payment ecosystem.