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Will Norway Go Digital? Central Bank To Decide On CBDC Next Year

  • Norway's central bank, Norges Bank, to decide on establishing its own CBDC next year.
  • Norges Bank is currently developing two possible models for CBDC: retail CBDC for consumers and wholesale CBDC for transactions between banks.
  • Norway is already a cashless society with 98% of the population using debit cards and over 95% relying on mobile payment platforms.
  • Norges Bank aims to give its recommendation on CBDC by 2025 after completing studies and consultations.

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