Dec 16, 2019

Swedish Central Bank considers issuing digital currency

Bank of Sweden Riksbank is considering working with Accenture, an international consulting company, to develop a test platform for the digital Swedish krona.

Unlike Switzerland, which sees more disadvantages than advantages in creating a state stablecoin, Sweden begins to study the properties and technological capabilities of the digital crown.

Riksbank believes that the pilot project will expand knowledge of state cryptocurrencies and give a clear understanding of how to maximize their potential. The Central Bank began to carefully study this issue, as in recent years the use of cash in the country has sharply decreased.

In October, Riksbank CEO Stefan Ingves called Libra stablecoin a “catalyst” for the digital transformation of global central banks.

In addition, in June Sweden became a member of the European Blockchain Partnership, along with Italy and the Czech Republic, with the aim of sharing experience and knowledge in the field of digital technologies for the development of public and private sectors.

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