Sweden’s financial markets minister Per Bolund said today the government is studying the creation of a central bank digital currency along the lines of China’s digital yuan renminbi or e-CNY. However, the nordic state won’t even decide on an e-krona until November 2022.
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Riksbank begins piloting a mobile app for the e-krona
The central bank of Sweden is conducting a test with Accenture aimed at developing a technical proposal for digital cash
Sweden is worried about the declining use of cash in the country, so it is looking into an alternative: a digital e-krona that will work on a mobile app and function similarly to cash.
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Sweden is edging toward issuing a national cryptocurrency
The Scandinavian nation may take its love for electronic money one step further
One of the first European countries to print paper money may also be first to phase it out. According to an HSBC analyst report, Sweden is the next nation to emerge as straight-up pro-cryptocurrency. Cash is dying there, with most Swedish residents perpetuating the well-established culture of paying for things via card or app. In 2015, bills and coins represented just 2% of Sweden’s economy. In 2016, the country’s central bank, Sveriges Riksbank, announced it was investigating issuing a formal Swedish cryptocurrency called the e-krona. A lot of pieces fit in the hypothetical jigsaw puzzle of Sweden-as-cryptocurrency-haven. The Swedish population already has a lot of experience with financial technology, thanks…
