Economics
National Security Has Iceland Pushing for Domestic Payment Tool
- Central bank cites lessons from 2008 financial crisis
- Domestic payments tool is a matter of national security
Iceland's central bank in Reykjavik.
Photographer: Arnaldur Halldorsson/Bloomberg
This article is for subscribers only.
Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.
Scarred by the financial crisis and reminded by the pandemic that the world is a precarious place, Iceland’s central bank wants new domestic retail payment tools that would reduce its reliance on global card giants.