The Bank of England and HM Treasury are consulting on the model for a UK retail central bank digital currency (CBDC) or ‘digital pound’ that would sit alongside, not replace, cash. On.
Bank of England Governor Andrew Bailey questioned the need for a digital pound on Monday just as euro zone finance ministers backed further preparatory work on a digital euro.
The United Kingdom is preparing to introduce the digital pound backed by the Bank of England (BoE), essentially making the idea of a trackable central bank digital currency (CBDC) a reality. [.]