Sweden’s central bank has launched a project to begin testing a central bank digital currency (CBDC), as it presses ahead with exploration of an e-krona.
The Riksbank announced late on Friday that it has picked Accenture, the global professional services firm, to produce “a solution as to how an e-krona could function in a test environment”.
The use of cash in the Scandinavian country has slumped so deeply that in April the Riksbank said a cashless society “in-the-not-too-distant future” cannot be ruled out.
The central bank views an e-krona as a way of retaining sway over the payments system and financial stability and of ensuring that centrally-issued currency remains available to the public.
Request a Free Trial
As a trusted source of regulatory intelligence for the global payments industry, we enable organisations to manage the growing volume and velocity of regulatory risk with confidence, empowering more informed and effective decision making, in an efficient and cost-effective way.Take a Trial