Work on e-krona entering new phase

The Central Bank of Sweden, Riksbank, has published a press release to provide an update on its work concerning the e-krona, a possible central bank digital currency (CBDC) representing the Swedish krona in digital form.
Thereafter, the Central Bank is now entering a new phase in its efforts, shifting the focus towards designing the e-krona and evaluating necessary legislative adjustments should the Swedish parliament, Riksdag, choose to proceed with its issuance of the CBDC. This shift in focus also entails the conclusion of the pilot project which was launched in spring 2020 and which aimed to test the technical feasibility of an e-krona, including offline payment capabilities and the optimization of cross-currency transactions. The findings obtained from this pilot project will play a crucial role in shaping the future development of an issuable e-krona.
In the meantime, Riksbank will closely monitor international developments on this issue, particularly the EU’s efforts on the development of a digital Euro, which may impact the design of the e-krona as well.