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Wan LixinOpinion deputy editor of Shanghai Daily
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Swedish central bank may issue e-krona in 2 years
Print Edition
SWEDEN’S central bank is considering issuing a digital currency called “e-krona” within two years in the Nordic nation where cash transactions are declining, officials said yesterday.
“Should the Riksbank issue electronic means of payment in the same way as we now issue cash?” Cecilia Skingsley, deputy governor at the central bank said during a speech in Stockholm.
But the world’s oldest central bank has not yet decided if it will be the first to supply a digital currency as legal and technical issues need to be resolved.
“Although it may appear simple at first glance to issue e-krona, this is something entirely new for a central bank and there is no precedent to follow,” Skingsley said.
Sweden is not the only country to investigate this move, she noted, citing discussions on the matter this year by the Bank of England and the Bank of Canada.
Since 2015, Ecuador has allowed its citizens to make small payments by mobile phone in Dinero electronico (electronic money), a virtual currency managed directly by the central bank, worth as much as the US dollar, and which mainly targets the half of the population without a bank account.
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