The Norwegian Central Bank is researching whether a central bank digital currency could provide benefits for customers.
Norway’s Central Bank, Norges, has extended a study that focuses on issuing a central bank digital currency (CBDC) as a way to supplement cash for customers. Several central banks in Europe, including Sweden’s Sveriges Riksbank, are already actively exploring the benefits of issuing a CBDC.
“A decline in cash usage has prompted us to think about whether at some future date a number of new attributes that are important for ensuring an efficient and robust payment system and confidence in the monetary system will be needed,” Norges stated in a working paper.
The central bank is studying two CBDC models.