Norway’s Central Bank Announces Plans to Test Country’s CBDC

Norway is currently developing a national digital currency (CBDC). However, unlike China, the authorities of the country have decided to initially study the potential of the token and test it within a separate economic zone.

The Norwegian central bank has recently announced extensive tests of the digital krone. Based on the results of the test, the watchdog will determine the degree of impact of the CBDC on the Norwegian banking sector.

According to the regulator:

“The digital version of the krone can complement cash and create an environment for competition.”