ekrona

The e-krona is a proposed central bank digital currency (CBDC) issued by Sweden’s central bank, the Riksbank. If adopted, it would be a digital liability of the state and a complement to cash, enabling individuals, businesses and public authorities to pay and settle transactions digitally. The design is intended to maintain public access to a safe form of money in a society where cash usage is diminishing.

Development of the e-krona began in the 2010s as part of research into the resilience and functionality of the payments system. The Riksbank has conducted studies, prototypes and pilots to explore how an e-krona could be designed, tested, and integrated with banks and other payment providers. As of 2024, no decision had been made to issue an e-krona, and the project remained exploratory, with pilots and public discussions continuing while acknowledging that any launch would require legislative changes and careful coordination with financial authorities.

Design considerations include whether the e-krona would be retail (general-use) or wholesale, how wallets or accounts would be accessed, and whether online or offline payment capabilities would be supported. Questions also focus on privacy protections, anti-money-laundering controls, resilience to outages, and how the e-krona would interact with cash, private payment apps, and existing bank money. The Riksbank would issue the currency, with the government and supervisory authorities providing the regulatory framework and oversight.

Potential impacts include maintaining monetary sovereignty, improving payment efficiency, and reducing cash handling costs, balanced against concerns about privacy, cyber risk, and the cost and complexity of new infrastructure. See also central bank digital currency, Riksbank, and Sweden.