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Samson: Sweden intends to convert its national currency into digital currency by 2022

12th December 2020

Sweden intends to consider the possibility of converting its national currency into a digital currency by 2022.

The Swedish Minister of Financial Markets and Consumer Rights, Per Bollund, said today, Saturday, that “the government expects to complete the review of the digital currency by the end of November of 2022.” He added, “This initiative will be led by Anna Kinberg Batra, former chair of the Finance Committee of the Swedish Central Bank (Riksbank).”

The Swedish minister said, “The review of this project will reveal the feasibility of transferring the payment infrastructure in the country into a digital currency.”

It is reported that Swedish Radio Commenting on the central bank report, that less than 10 percent of all payments are made with real money in Sweden.

Sweden ranks first in the world in terms of cash withdrawal rate, and in circulation, cash represents only 1% of GDP. LINK