Reserve Bank of New Zealand to Consult on Potential CBDC

One central bank official says the future "will undoubtedly involve less cash."

AccessTimeIconJul 7, 2021 at 10:43 a.m. UTC
Updated Sep 14, 2021 at 1:21 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

The Reserve Bank of New Zealand will explore the potential for a central bank digital currency (CBDC) as part of a series of consultations to be carried out by the end of the year.

  • The central bank aims to consult on the "issues key to the future of how New Zealanders pay and save," Christian Hawkesby, assistant governor of the Reserve Bank of New Zealand, the country's central bank, said Wednesday.
  • One paper will explore the potential for a CBDC working alongside cash as a form of government-backed money.
  • "The future will undoubtedly involve less cash," Hawkesby said. "The potential for a CBDC to help address some of the downsides of reducing physical cash use is something we want to explore."
  • Other papers will focus on issues arising from cryptocurrency and stablecoins.
  • New Zealand's central bank joins its counterparts in the world's major economies in exploring the potential for a CBDC, with China leading the way. South Korea and Sweden both appear to have moved from exploration to testing in recent months.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.