Sweden’s Central Bank Says to Launch Cryptocurrency Pilot Project

Sweden’s central bank said on Friday it would sign a deal with consultancy firm Accenture to create a pilot platform for a digital currency, known as the e-krona.

“The primary objective of the e-krona pilot project is to broaden the bank’s understanding of the technological possibilities for the e-krona,” the Riksbank said in a statement.

Cash use has declined rapidly in Sweden in recent years and the Riksbank has been looking at whether it should issue a digital currency as part of its role to promote a safe and efficient payment system.