Sweden intends to give up cash

Sweden plans to consider switching to a digital analogue of its national currency by 2022. This was reported by the Bloomberg Agency on Friday, according to the Minister of Financial Markets and Consumer Rights, Pira Bolund.

He said a study on the potential transition to electronic money was launched on Friday. The process of examining such a possibility is expected to be completed by the end of November 2022.

In November, Swedish Radio, which brought the Central Bank's report, reported that less than 10% of all payments are made in Sweden in real money. According to the report, Sweden is ranked first in the world in terms of the rate of non-use of cash.
Cash in circulation is only 1% of GDP, while in the euro area this figure is 11%.