Norway prepares to test central bank digital currency technology
Norway’s central bank planned to test a range of technical solutions for a central bank digital currency (CBDC) over the following few years.
Norges Bank said the work would help determine the most suitable technical approach if Norway decided to introduce a CBDC.
The bank noted that payment technology was developing rapidly and that Norway had one of the world’s lowest shares of cash use in payments.
Other central banks were also advancing their work. Sweden was making progress on the e-krona, China had begun real-world trials of a digital yuan, and the United Kingdom had established a taskforce to study a potential Britcoin.
Norges Bank governor Øystein Olsen said more knowledge and information were needed before deciding whether to issue a CBDC.
Source: Finextra.
Mongolian Fintech Association