Central Banks Form a Group to Study Digital Currency Use Cases

Major central banks, together with the Bank for International Settlements (BIS), have created a group to share experiences and assess the potential use cases for central bank digital currency (CBDC) in their respective jurisdictions.

The group includes Bank of Canada, Bank of England, Bank of Japan, European Central Bank, Sveriges Riksbank and the Swiss National Bank and will be chaired by Benoit Coeure, Head of the BIS Innovation Club and Jon Cunliffe, Deputy Governor of the Bank of England.

The main aim will be to assess CBDC use cases like cross-border interoperability and the sharing of knowledge on emerging technologies.