Norway's Central Bank to start testing technical solutions for CBDC

Friday 23 April 2021 13:52 CET | News

Norway’s Central Bank has announced it is ready to move ahead and start testing technical solutions for a central bank digital currency (CBDC) over the next two years.

In an announcement, Norges Bank said the motivation for research into CBDCs remains strong as many other central banks around the world are carrying out similar experiments. It has been four years since Norges Bank began researching CBDCs and the bank believes it is now ready for the next step, which involves ‘technical testing’ with more in-depth analysis looking into the implications of launching a CBDC.

The central bank said payment technologies have evolved at a rapid pace, and cash payments in Norway are now probably the lowest in the world.

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Keywords: central bank, banks, CBDC
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: Norway
This article is part of category

Blockchain & Cryptocurrencies