Today the
Bank of Lithuania unveiled a paper which reviews the Central Bank Digital Currency (CBDC) initiatives around the world. Yesterday, the Bank unveiled its
LBCoin, a digital collectible coin commemorating the 1918 independence of the country. The document issued today clarifies that the LBCoin is a controlled CBDC experiment.
As part of the European Union monetary system, the Bank of Lithuania is not in a position to issue a full CBDC on its own. Other Euro countries, such as
France are also exploring CBDC as well as the
European Central Bank (ECB).
Talking about its LBCoin experiment, the bank says: “The approach is borrowed from the regulatory sandbox concept of the supervisory unit of the Bank of Lithuania. In this case, a niche area of numismatics has been identified as a playground with controlled risk for the central bank and potential retail users.”
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