Íø±¬³Ô¹Ï

Home   News   Features   Interviews   Magazine Archive   Symposium   Industry Awards  
Subscribe
Íø±¬³Ô¹Ï
Leading the Way

Global Íø±¬³Ô¹Ï Finance News and Commentary
≔ Menu
Íø±¬³Ô¹Ï
Leading the Way

Global Íø±¬³Ô¹Ï Finance News and Commentary
News by section
Subscribe
⨂ Close
  1. Home
  2. Industry news
  3. BoE and MIT collaborate on CBDC
Industry news

BoE and MIT collaborate on CBDC


28 March 22 UK US
Reporter: Bob Currie

Generic business image for news article
Image: AdobeStock/gmcphotopress
The Bank of England (BoE) has announced that it will collaborate with Massachusetts Institute of Technology (MIT) on a year-long research project focused on development of a central bank digital currency (CBDC).

In a collaboration that was agreed in February, the UK central bank indicates that it will be working with MIT Media Lab’s Digital Currency Initiative group to analyse potential opportunities, challenges, risks and trade offs involved in designing a CBDC system.

This initiative will be part of the BoE’s wider ‘research and exploration’ programme into CBDC development that was announced in November.

This will include a consultation running during 2022 that will frame the BoE’s and HM Treasury’s assessment of the case for a UK CBDC and will evaluate the primary issues at hand — specifically high-level design features, potential benefits and implications for users and businesses, and indication for further work.

The BoE and HMT emphasise that no decision has yet been made on whether to introduce a CBDC for the UK. These two entities created a joint CBDC Taskforce in April 2021 to conduct a cost-benefit analysis of the case for introducing a UK CBDC.
← Previous industry article

Eurex STS will cease to operate from 30 June
Next industry article →

Deutsche Börse acquires Kneip
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Íø±¬³Ô¹Ï Finance Times
Advertisement
Subscribe today
Knowledge base

Explore our extensive directory to find all the essential contacts you need

Visit our directory →

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →