Sweden’s central bank, Riksbank, is preparing to introduce a possible central bank digital currency (CBDC) — the e-krona — according to a Dec. 15 statement.
Riksbank said that it is “ready to be able to issue an e-Krona” if Sweden’s legislature, the Riksdag, chooses to proceed with the asset’s creation. The central bank said it is “therefore working to prepare for an issuable e-krona.”
The central bank noted that an e-krona could complement cash as transactions become increasingly digital. In addition, a CBDC such as the e-krona would reduce reliance on private payment services and match the value of the Swedish krona.
As such, an e-krona would “ensure that we preserve several of the functions of cash in a future where cash is no longer used,” Riksbank explained.
Riksbank added that it has been working with the consulting firm Accenture since 2020 on a pilot project involving an e-krona. The second stage of that pilot concluded this year. The pilot is now in its t
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