Banking and Capital Markets

Why Sweden's cashless society is no longer a utopia

A man pays using his phone.

Central bank-issued digital currency, like Sweden's e-krona, could stop the overwhelming reliance on the private sector.

Cecilia Skingsley
Head of the BIS Innovation Hub, Bank for International Settlements (BIS)
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The outstanding value of cash transactions in Sweden is only 1%.
The outstanding value of cash in circulation in Sweden is only 1% Image: Unsplash
The value of Swedish cash in circulation over the last 25 years.
The value of Swedish cash in circulation over the last 25 years. Image: Bloomberg.
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