Six central banks cooperate on digital currency

The group will closely interact with the Financial Stability Board and the Committee on Payments and Market Infrastructures (CPMI)

digital currency

Six central banks cooperate on digital currency. Source: shutterstock.com

The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, Sveriges Riksbank, the Swiss National Bank, and the Bank for International Settlements (BIS) announced to create a group to explore digital currency creation.

This way, they aim to share the experience of how they assess the potential cases for central bank digital currency (CBDC).

The group will estimate CBDC use cases along with economic, functional and technical design choices. What is more, it will include cross border interoperability and the sharing of knowledge on emerging technologies.

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