Sweden moving forward in e-krona CBDC trials
Sweden will trial its CBDC with a live banking participant. The experimentation will involve participation between Riksbank and Handelsbanken, a retail bank chain based in Sweden. Sweden has made a number of strides toward its own central bank digital currency, or CBDC, called the e-krona. The Sveriges Riksbank, the country’s central bank, now looks to experiment with the asset using a non-simulated party. As reported by Reuters, Riksbank detailed on Friday via a statement: “The e-krona pilot is therefore moving on from only having simulated participants to cooperation with external....
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Sweden is examining risks and consequences of moving its economy to its e-krona digital currency. The Swedish government is progressing with its central bank digital currency, or CBDC, by launching a formal review of a potential transition to the digital currency.According to a Dec. 11 Bloomberg report, the review will explore the feasibility of moving the country's payments infrastructure to a digital currency. The country features one of the most cashless economies in the world.Per Bolund, Sweden’s financial markets minister, reportedly said that the government expects to complete the....
Sweden’s central bank deputy governor recently updated the public on the country’s CBDC exploration. Central Bank Digital Currencies, or CBDCs, were the talk of the town for many in crypto and banking in 2020, with Sweden's prospective e-krona one of the frontrunners. Sweden’s central bank, Sveriges Riksbank, is investigating distributed ledger technology, or DLT, for its CBDC proof-of-concept, the bank’s deputy governor confirmed today. “The technology we use is the DLT called Corda,” Cecilia Skingsley, the deputy governor of Sweden’s central bank, said on Wednesday during a CfC St.....
Sweden's central bank has begun to study the feasibility of moving the country to a digital currency.
The Swedish CBDC is now technically ready for integration with banks and payment service providers, according to a report from Riksbank. The Swedish central bank’s digital currency project, a proposed CBDC, known as the e-krona has successfully finished its second phase of trials. According to Riksbank, the nation's central bank, the asset is now technically ready to be integrated into banking networks and facilitate transactions. During the second phase of the e-krona pilot project — which began in February 2021 — the CBDC was investigated on the matter of its technical ability to....
The Swedish central bank keeps making steps towards modeling its e-krona pilot project by issuing a detailed report of the results of phase one for the path ahead. Riksbank is still optimistic about launching its central bank digital currency (CBDC), but there are hurdles to clear out on the road. Riksbank to Spend Another Year Exploring Solutions for the Pilot According to the report named “E-krona pilot phase 1,” the central bank highlighted that cash usage in Sweden is “declining.” That said, Riksbank sees potential problems arising from the decline in cash and....