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Sweden begins testing Europe's first central bank digital currency

Tuesday 25 February 2020 12:47 CET | News

The Riksbank of Sweden has announced starting to test Europe’s first central bank digital currency (CBDC), they said in a statement.

The Riksbank, Sweden’s central bank, issued a statement yesterday that they are beginning to test Europe’s first central bank digital currency (CBDC). This announcement comes following January’s announcement of the Riksbank joining the World Economic Forum’s Blockchain think tank at this year’s Davos WEF summit.

Sweden’s trials with e-Krona is expected to be a pilot test for other developed economies in the West to observe. The e-Krona is being developed by consultancy firm Accenture. They will be running preliminary tests, in a sandboxed testnet. Sweden’s announcement of the e-Krona tests being conducted by the Riksbank come on the heels of the announcement made by Brazil’s central bank.

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Keywords: The Riksbank of Sweden, cryptocurrency, e-crona, central bank digital currency, digital currency, Nordics, Europe
Categories: DeFi & Crypto & Web3
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Countries: Sweden
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DeFi & Crypto & Web3