Sweden Casts Around for Potential E-Krona Suppliers

The country's central bank says it wants to understand the technical options before taking a decision on issuing a CBDC.

AccessTimeIconApr 7, 2022 at 4:00 p.m. UTC
Updated May 11, 2023 at 5:07 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

Sweden's central bank Thursday asked potential suppliers for a new digital krona to set out their stalls.

The Sveriges Riksbank published a request for information seeking information about what's available and how the architecture might work ahead of a potential decision on issuing its currency in digital form.

Pilot trials carried out by the Swedish authorities have used distributed ledger technology, similar to that underpinning bitcoin (BTC). In a report Wednesday the Riksbank said it wanted to explore issues like smart payments, for example, enabling transactions to be made as soon as a contract is fulfilled.

The central bank said it wants to "gain a concrete understanding of possible suppliers and technical options" that could underpin a central bank digital currency (CBDC) to be used within five or six years. It also wants to check limitations of different solutions and how they fit with the rest of the market.

The tender is open until May 13, after which a small number will be invited in to demonstrate their ideas, the central bank said.

Sweden, which is a member of the European Union, is not a member of the euro currency area.

Disclosure

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

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies 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 with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Jack Schickler

Jack Schickler was a CoinDesk reporter focused on crypto regulations, based in Brussels, Belgium. He doesn’t own any crypto.


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 consensus.coindesk.com to register and buy your pass now.