Banks Warn Sweden's Central Bank to Stay Out of Retail Market
- Rapid decline in Swedish cash usage now looks to have halted
- Banks say e-krona could compete with commercial banks
Swedish central bank in Stockholm.
Photographer: Johan Jeppsson/BloombergThis article is for subscribers only.
The Swedish central bank’s deliberation on creating an electronic currency is sounding the alarm at the country’s lenders.
The Nordic country is moving quickly toward becoming the world’s first cashless society, which has raised concerns at the central bank. Policy makers have started investigating the possibility of introducing an electronic complement to cash, or what it calls an e-krona.