Riksbank announced a new step in e-krona development

Swedish central bank is procuring suppliers to develop proposals for an e-krona

Riksbank announced a new step in e-krona development. Source: unsplash.com

The Riksbank has started the work of developing solutions for a possible future e-krona and is now procuring a supplier for support in this work, the official announcement says. The intention is for the Riksbank, in collaboration with the supplier, to work out proposals for how an e-krona could work. The objective is to broaden the bank’s understanding of the technological possibilities for the e-krona.

The procurement process will run over the summer and autumn of 2019, after which development work will start together with the procured supplier. In 2020, a technical platform for e-krona payments, as well as a small number of different forms of means of payment for the e-krona, will be developed and tested. After this, the Riksbank will decide on whether the agreement will be extended and whether more use cases and functionalities will be developed.

However, the Riksbank highlights that no decisions have yet been taken on issuing an e-krona.

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