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Will CBDC replace cash in the UK?
If a CBDC were to be introduced in the UK, it would be denominated in pounds sterling so £10 of CBDC would be worth the same as a £10 banknote. CBDC would be a liability of the central bank. Any CBDC would be introduced alongside, rather than replacing, cash and commercial bank deposits.
People also ask
Is the UK going to digital currency?
The next steps for a digital pound
We haven't made a decision on whether we will introduce a digital pound. The earliest we would issue a digital pound would be the second half of this decade. We are now in a design phase which will look at the technology and policy requirements for a digital pound.
Second half of this decade. That's NOW
The 2020s decade starts on January 1st, 2020, so the second half would begin on January 1st, 2025.
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