Sweden now joins the ranks of countries adding digital currency for payments. Riksbank, the regulator for Sweden, has announced a partnership with Accenture for the e-krona digital currency.
Accenture will develop the UI features for e-krona in 2020. Riksbank may be working with Accenture for up to seven years, which is the scheduled testing period for pilots on the Central Bank Digital Currency (CBDC).
Riksbank has been researching CBDC since 2016. Because major stakeholders have moved from bills and coins to digital currency, the Swedish government has felt the pressure to move to electronic money. Facebook’s stablecoin, Libra, also had an influential role in the move made by Riksbank.