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Digital Pound Foundation Launches to Push for UK CBDC
The Bank of England has also set up forums to explore a digital currency.
Updated May 11, 2023, 5:46 p.m. Published Oct 14, 2021, 8:42 a.m.
A group of private sector professionals launched the Digital Pound Foundation, an organization that aims to promote the development of a central bank digital currency (CBDC) for the U.K.
- The foundation will conduct research about and advocate for a digital British pound, and get multiple stakeholders to work together to help design and roll out the currency, according to a Thursday press release.
- Jeremy Wilson, former vice chairman of Barclays Investment Bank and a director at Nedbank Private Wealth International, will serve as chairman of the group.
- Founding members and affiliates include consultancy Accenture, decentralized finance protocol Avalanche, blockchain developer Billon Group, IT and business consulting firm CGI Group, cryptocurrencies Electroneum and Quant and digital-payment service Ripple.
- The Bank of England has set up two forums to explore the creation of a digital pound. Members, announced in September, include financial juggernauts such as HSBC, tech giants like Spotify and retailers such as Asos.
Read more: Bank of England Official: It’s ‘Probable’ UK Will Launch a Digital Currency
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