The Swedish authorities are reportedly moving the process for releasing its CBDC along, via issuing a formal review of a potential transition to the digital coin.

Specifically, the review will reportedly deep dive into the feasibility of transferring the nation’s payments network into a digital currency. Sweden is reportedly among world-leading cashless economies.

Sweden’s financial markets minister, Per Bolund, reportedly claimed that the authorities set a tentative done date for finalizing the digital currency review – the end of November 2022. 

Anna Kinberg Batra — a former chairwoman of the finance committee at Sweden’s central bank, Riksbank – would reportedly be in charge of spearheading the project. 

Bolund reportedly highlighted that making sure the digital payment infrastructure in the nation is safely operational is essential, as well as is accessible to all individuals. 

“Depending on how a digital currency is designed and which technologies are used, it can have large consequences for the entire financial system,” The minister reportedly remarked. 

Sweden has reportedly been gradually securing a reputation of being among the world’s top CBDC technology pioneers. Last year, the nation reportedly rolled out a pilot platform for a digital currency, generally referred to as e-krona. 

In its attempt to design the platform, Sweden’s central bank reportedly teamed up with professional services firm from Ireland, Accenture. 

Riksbank reportedly initiated its first e-krona trials in February this year, further revealing that they will be carried out with a deadline being February next year.