Sweden is making progress in e-krona CBDC studies

Sweden has taken a number of steps towards its own central bank digital currency (CBDC), known as the e-krona. Sveriges Riksbank, the country’s central bank, is now trying to experiment with the asset using a non-simulated party.

As reported by Reuters, the Riksbank said in a statement on Friday: “The e-krona pilot is therefore switching from simulating simulated participants to working with external participants in the test environment.” Sweden-based retail bank chain.

In January, the Riksbank discovered that its proof-of-concept solution from e-krona Corda, a DLT (Distributed Ledger Technology) solution from R3, is using. Sweden has been on the CBDC path for over a year. April brought the news that the country had completed the first part of its CBDC pilot project.

The Riksbank’s statement, reported by Reuters, also included Handelsbanken: “For Handelsbanken, the project means the opportunity to participate in one of the world’s first central bank-issued funds open to the public.”

CBDCs were a hot topic in 2020 and countries continued their activities in 2021. China has largely led the charge regarding CBDC ambitions, although the Bahamas made its appearance last fall with the first CBDC launch, calling their currency the sand dollar. Most recently, Lael Brainard, the governor of the Federal Reserve, the central bank of the United States, expressed the importance of a CBDC to the country’s position as the world’s reserve currency.