Some of the world’s major central banks are teaming up to assess potentially developing their own digital currencies, acknowledging that their role is being challenged by new technologies and private sector initiatives such as Facebook Inc.’s Libra.
A group has been formed in order to “share experience as they assess the potential cases for central bank digital currency in their home jurisdictions,” according to joint statements on Tuesday. The body will be made up of the Bank of England, Bank of Canada, BOE, the Bank of Japan, the European Central Bank, the Riksbank and the Swiss National Bank, along with ...