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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