New Zealand’s central bank consulting on development of digital currency
NEW Zealand’s central bank is looking at the possibility of creating a digital currency and has begun consulting on design options, it said in a statement on Wednesday.
“It would be a new type of money in addition to the banknotes and coins we have today, and the electronic money in your bank account,” said Ian Woolford, director of Money and Cash at the Reserve Bank of New Zealand.
He added that it would be the first digital form of New Zealand currency backed by the government and available to the public.
This stage of the consultation ends in 2024, but the central bank expects development work on the digital currency to take until 2030. REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Stablecoin issuer Tether invests US$200 million in brain-computer interface company
Asset manager Value Partners cuts one-third of China staff in overhaul: sources
Abu Dhabi sovereign wealth fund plans debut dollar bond sale
Deutsche Bank merger ends Numis dealmakers’ boutique freedom
China’s mega banks post rare profit drops on margin squeeze
Money launderer Su Baolin sentenced to 14 months’ jail