Sweden’s central bank, the Riksbank, is urging parliament to reconsider whether the country should introduce an e-krona as digital payment systems, stablecoins and geopolitical risks reshape the payments landscape. A 2023 government inquiry found no urgent need for a retail CBDC. The Riksbank now argues that the question deserves another review as Sweden becomes increasingly cash-light and alternative digital money gains ground, including stablecoins.
Deputy Governor Per Jansson warned that if Swedish kronor are not available in a convenient digital form, the currency could struggle to compete with cross-border payment instruments. A Riksbank survey showed only 5% of Swedes used cash for their most recent purchase. The central bank also warned that declining krona use could weaken monetary policy transmission and create financial stability challenges.
The Riksbank has not formally endorsed an e-krona, leaving the decision to parliament. Jansson said legislation and practical preparations would require at least five years, while the European Central Bank could launch a digital euro in 2029. The next step is therefore political reconsideration rather than an immediate CBDC rollout, with resilience against cyberattacks, military threats and power outages also part of the debate.
Source: Reuters.
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