EU central banks team up to explore digital currency use cases

A raft of central banks are banding together to gauge whether they should launch their own digital currencies, Reuters reports. The group aims to assess use cases of central bank digital currencies (CBDCs), analyse design choices such as cross-border interoperability, and share knowledge on the emerging technology. Initial members include the Bank of International Settlements (BIS), the European Central bank (EBC), the Sveriges Riksbank, the Swiss National Bank, and the Banks of England, Canada, and Japan. Benoît Cœuré, the head of the BIS Innovation Hub, will co-chair the group alongside Bank of England deputy governor Jon Cunliffe. The move comes as…

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