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Sweden’s Riksbank Begins Testing Central Bank Digital Currency

Ramsey Baker

Summary: Riksbank, Sweden’s central bank, announced on Wednesday it would begin testing an e-krona, moving Sweden closer to the creation of the world’s first central bank digital currency (CBDC), according to a report from Reuters. If the e-krona is able to eventually reach circulation it will be used to simulate everyday banking activities, such as payments, ...

Riksbank, Sweden’s central bank, announced on Wednesday it would begin testing an e-krona, moving Sweden closer to the creation of the world’s first central bank digital currency (CBDC), according to a report from Reuters.

If the e-krona is able to eventually reach circulation it will be used to simulate everyday banking activities, such as payments, deposits and withdrawals from a digital wallet such as a mobile phone app, the Riksbank said.

By Ramsey Baker

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