In the last few days, several central banks made announcements relating to central bank digital currencies (CBDC). This follows recent major reports on CBDC from a group of seven central banks, the European Central Bank, the Bank of Japan and others.
Stefan Ingves, the Governor of RiksBank, Sweden’s Central Bank, published a paper on the future of money and payments. Sweden is seen as one of the more advanced economies in terms of CBDC testing and is currently conducting distributed ledger technology (DLT) pilots with Accenture’s help. But the country has not yet committed to proceeding with a CBDC.
However, his own vision includes a Riksbank e-krona that is legal tender. He also hopes for a state-issued ID card, 24/7 instant payments using state money both domestically and between currencies across borders.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
