A new report by PwC shows the UK is ahead of the rest of Europe when it comes to digital currency adoption.
In Brief:
The PwC CBDC Global Index says the nation is fifth in the world.
This is around which countries are implementing a retail digital currency underwritten by their central bank.
Ahead of the UK are the Bahamas, Cambodia and China.
What does this mean?
The index looks at central banks’ level of maturity in deploying their own digital currency – both wholesale (interbank) and retail.
On Monday, the Chancellor announced at UK Fintech Week that the Government will continue to prioritise this development and make the most of the Bank of England’s innovative tech platform, by supporting a Central Bank Digital Currency taskforce.
