Sweden Begins Testing Europe's First Central Bank Digital Currency

The Riksbank of Sweden is starting to test Europe’s first central bank digital currency (CBDC), they said in a statement made Wednesday. The Swedish central bank says the goal of the testing is to show that citizens could benefit from using an e-Krona that’s as easy to send as an email.

Sweden leads the CBDC race
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 last month’s announcement of the Riksbank joining the World Economic Forum’s Blockchain think tank at this year’s Davos WEF summit.

Sweden has been a leader in moving towards a cashless society for a number of years now. Over half of Sweden’s banks don’t even keep physical cash in their vaults. Most payments happen with…

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