#Stefan #Ingves, Chairman of the Central Bank of #Sweden ( #Riksbank), announced that the country could issue its own digital central bank money within the next 5 years.
The President of Riksbank announced in his statements on Thursday that e-crowns could be ready within five years, giving a time frame for the first time on the subject.
Sweden, where less than 10% of payment transactions are made in cash, according to Central Bank data, is one of the countries with the least cash usage in the world.
↘️"A reasonable goal"
The Swiss Central Bank accelerated its digital central bank money work in 2018. Pilots in the country are expected to continue until early 2022.
According to #Bloomberg's report, the Governor of the Central Bank said that he has found the work done so far "successful" in terms of speed .
Ingves stated that a five-year timeframe for e-krona is a "reasonable target" . The digital currency to be developed in Sweden will be subject to parliament's approval.
The European Central Bank published the results of its public opinion survey on CBDCs on Wednesday . Sweden plans to implement a similar implementation in November 2022