RBNZ Opens Consultation on Digital Currency for New Zealand

RBNZ is exploring a central bank digital currency, which would be the first digital form of New Zealand currency backed by the government and available to the public, central bank says in statement on website.

• Consultation on high-level design options opens April 17 until July 26
• “This is multi-stage exploration until around 2030”
• Say consumers would likely need a digital wallet, payment card or phone app to access digital cash but wouldn’t need a commercial bank account to use it
• “Just like physical cash, digital cash would be denominated in New Zealand dollars and issued by the Reserve Bank. It ...