Sweden’s Riksbank said it had begun testing an e-krona, taking the country a step closer to the creation of the world’s first central bank digital currency

If the e-krona eventually comes into circulation it will be used to simulate everyday banking activities, such as payments, deposits and withdrawals from a digital wallet such as a mobile phone app, the Riksbank said.

“The aim of the project is to show how an e-krona could be used by the general public,” the Riksbank said in a statement.

Read More at Reuters

Read the rest at Reuters