The Bank of England has announced the launch of a test sandbox for the digital pound, which could become a central bank digital currency (CBDC). The "Digital Pound Labs" project, which will begin this year, will work with private financial companies and government agencies to identify issues in existing payment systems. A decision on the implementation of the digital pound has not yet been made, and this requires the development of more detailed policies and technologies. This process is expected to take several years.
1/15/2025 11:36:24 AM (GMT+1)
The Bank of England launches a test sandbox for the digital pound of the central bank digital currency project, which will begin operating in 2025 to improve payment systems 💰
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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