UK look to launch digital pound by 2030, roadmap to be released soon

The Bank of England (BoE) and His Majesty’s Treasury will introduce a roadmap to build a central bank digital currency (CBDC) next week, The Telegraph reported on Feb. 4. The BoE and Treasury are looking to launch a four-month consultation in which businesses, academics, and the wider public will be invited to share views on the launch of a “digital pound,” the report said.

The digital pound is being considered due to the falling cash usage in the U.K. — cash now accounted for only 15% of all transactions in 2021, compared to over 50% of transactions in 2011.