Press

Cash usage in the Scandinavian nation is dropping rapidly, making Sweden a prime candidate for an “official” cryptocurrency. Sweden’s central bank, the Riksbank, is spearheading international cooperation on the development of officially sanctioned cryptocurrencies and could be the first to launch its own. Sweden’s economy has one of the lowest cash usage rates of anywhere in the world, with cash use often actively discouraged by shops and other businesses. As HSBC economist James Pomeroy notes, the Riksbank has “issued a number of research articles on the topic, with the suggestion being that as cash usage continues to dwindle, the central bank may need to find another way to provide their populations with access to payments that are not via an intermediary such as a retail bank.” - Business Insider -