Sweden extends digital krona digital currency pilot until 2022
Sweden's exploration into CBDCs will continue until 2022, as the nation's central bank seeks to construct a digital version of the krona. Sweden’s central bank has extended an ongoing pilot aimed at creating a digital version of the Swedish krona until 2022, as was recently announced by the nation’s Riksbank.In combination with professional services firm Accenture, the “e-krona” pilot program was created to address what the Riksbank sees as “the marginalization of cash”:“The Riksbank sees potential problems with the marginalisation of cash and has therefore initiated a pilot project to....
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Sweden's Riksbank said it would continue work with Accenture on a potential e-krona digital currency until next year.
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 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....
Sweden's central bank has begun to study the feasibility of moving the country to a digital currency.
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....