Libra unlikely to play a major role in Sweden – Riksbank research
Existing payment systems are highly integrated into companies’ cash systems, and Libra would add exchange rate risks
Libra is unlikely to become a widely-used means of payment in Sweden due to efficient existing platforms already integrated into businesses, says research carried out by Sveriges Riksbank.
The Facebook-led initiative to launch a new financial asset for making payments, originally slated for 2020, could encounter structural challenges in mature markets such as Sweden. There, individuals and companies lack an incentive to adopt it, says the research. Libra would lack the network of existing users
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