Norway Holds Off on CBDC Launch Citing Efficient Payment Systems
Norway’s central bank has concluded that a central bank digital currency (CBDC) is unnecessary for now, marking a pause in its multi-year exploration of sovereign digital money. The decision reflects confidence in the nation’s existing payment infrastructure, which the bank describes as secure, low-cost, and resilient.
Governor Ida Wolden Bache left the door open for future adoption, noting that while current systems suffice, Norges Bank stands ready to deploy a digital krone if market conditions change. The announcement comes as cash usage in Norway dwindles to among the lowest levels globally.
The bank’s analysis distinguished between retail and wholesale CBDC applications but found neither urgently required. Payment systems already benefit from fast settlement and robust contingency measures, with upgrades underway to further strengthen reliability.
