BoE sets out design principles for retail CBDC

Bank of England
The Bank of England
Photo: Juno Snowdon Photography

The Bank of England has unveiled its most detailed assessment to date of the design process for developing a retail central bank digital currency (CBDC).

The discussion paper, published today (March 12), sheds new light on how the BoE would go about designing such a retail CBDC.

Step one, which is already under way, is to understand the “opportunities and challenges” of CBDC, the BoE says. In step two, the UK central bank should “set an overall objective” for the new currency, which should

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