Sweden Presses Ahead On E-Krona Plans

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.

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