The Bank of England is to start a series of conversations with businesses on the likely impact of a digital pound.
The central bank says the aim of the study is to provide insight into where a retail digital pound could add value to different businesses and what features are expected to be the most/least valuable for different kinds of businesses.
The Bank of England is currently in a ‘design phase’ for a potential digital pound with the aim of establishing a ‘clear proposition’ for a UK CBDC.
In January, the Bank annoppunced plans to create a Digital Pound Lab to help set out the blueprint for a future Britcoin. Operating in a sandbox environment, the Digital Pound Lab enables hands-on experimentation for testing API functionality, innovative use cases and potential business models for PIPs and ESIPs.
The BofE says it is now “particularly keen” to engage with companies that are interested in the digital pound, but have not yet been involved in the Lab.
“The case studies are designed to sit alongside and complement the Digital Pound Lab by improving our understanding of the business impact of different potential digital pound features for merchant adopters,” says the Bank.
Applications are open until 9 January 2026. The Bank will choose successful applicants by late January, with bilateral workshops happening in February and March.
Applications are open to companies from all sectors that are interested in digital pound use cases, but who are not currently considering practical experimentation within the Digital Pound Lab.
In July, it was reported that The Bank of England is considering shelving plans for the creation of a digital pound amid growing scepticism over the project’s benefits. The BofE has been privately urging the banking industry to instead accelerate payment innovations that could result in similar benefits without the creation of a central bank digital currency, or CBDC, for consumers.
Similar caution over the benefits of CBDCs has been expressed in Norway. In a statement released on Wednesday, Norway’s central bank says it does not currently recommend the introduction of a central bank digital currency (CBDC), but may do so at a later time
“We will be ready to introduce a central bank digital currency if it becomes necessary to maintain an efficient and secure payment system,” Norges Bank Governor Ida Wolden Bache said in a statement.
Source: Finextra
