Britcoin Will Not Replace Cash, BOE Governor Bailey Says
- The BOE will supply cash ‘for as long as people want it’
- Retail CBDC being developed to help modernize payments system
Andrew Bailey
Photographer: Kent Nishimura/BloombergThis article is for subscribers only.
Digital money will not replace cash in the UK and the Bank of England will continue to provide notes and coins “for as long as people want,” Governor Andrew Bailey said.
Speaking on a panel at the Group of Thirty’s 39th Annual International Banking Seminar in Washington, Bailey said: “The evidence is they do want it, so we will continue to supply it.”