According to the Bank of England (BoE), the central bank of the United Kingdom, it along with four other national central banks, as well as the Bank for International Settlements (BIS), have created a group to study potential use cases for central bank digital currencies (CBDCs) in the jurisdictions concerned.
The press release issued by the BoE on Tuesday (January 21) says that the bank of England, the Bank of Canada, the European Central Bank, the Sveriges Riksbank and the Swiss National Bank, as well as the Bank for International Settlements (BIS), which "serves as a bank for central banks", have formed a group to "share experience" as they evaluate "CBDC use cases; economic, functional and technical design choices, including cross-border interoperability; and the sharing of knowledge on emerging technologies."
This group will "closely coordinate with the relevant institutions and forums – in particular, the Financial Stability Board and the Committee on Payments and Market Infrastructures (CPMI)."
The two co-chairs of the group are Benoit C?ure, the Head of the BIS Innovation Hub, and Jon Cunliffe, the Deputy Governor of the BoE and the Chair of the CPMI.
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