World’s Oldest Central Bank Could Be First to Issue Digital Currency
Sweden’s central bank is reportedly considering the issuance of its own digital currency, ekrona, in an effort to address the significant decline of the use of cash in the country. First revealed in a Financial Times report, Sweden’s Riksbank could introduce and issue its own digital currency before the turn of the decade. As the report reveals, Sweden has seen a rapid decline of the use of physical cash – both coins and notes – in recent times. Circulation has dropped by 40% since 2009, leaving Riksbank little choice but to come up with an alternative solution. A large number of Swedes....
Related News
Sweden's Riksbank said it would continue work with Accenture on a potential e-krona digital currency until next year.
In a speech on Monday, Yves Mersch, Member of the Executive Board of the European Central Bank (ECB), discussed how the bank could design, issue, and manage a central bank digital currency for everyone, to be used alongside cash. One of the two types considered was a cash-like digital currency with anonymity. The proposed central bank digital currency or....
The Central Bank of Chile revealed it is studying how to issue a national digital currency, the digital peso. The bank issued a report titled “Issuance of a Central Bank Digital Currency in Chile,” where it explores the possibility of the creation of a central bank digital currency (CBDC) in the future, the mechanism it might use, and how it will consult all sectors of the economy on this issue.
Central Bank of Chile Considers CBDC Issuance
More banks in Latam are considering the issuance of their own central bank digital currencies (CBDCs) to take advantage of the....
Most of the details regarding this project remain shrouded for the time being, although we do know the Dutch central bank has been exploring blockchain technology for quite some time now. Although distributed ledgers hold a lot of potential to increase the current day-to-day operations, there is something alluring about the aspect of issuing one’s own digital currency. More and more countries around the world are starting the concept of digital currency seriously these days. The Dutch central bank is joining this growing list, as they seem to have concrete plans to issue a new digital....
The Bank of New York Mellon, BNY Mellon, has set up a digital asset unit. The oldest bank in the U.S. plans to “hold, transfer, and issue” bitcoin and other cryptocurrencies on behalf of its clients. The bank aims to eventually treat cryptocurrencies like any other assets. BNY Mellon Gets Into Crypto The oldest bank in the U.S., BNY Mellon, announced Thursday “the formation of a new enterprise digital assets unit that will accelerate the development of solutions and capabilities to help clients address growing and evolving needs related to the growth of digital assets,....