Norwegian Central Bank Advances CBDC Research With Decision Expected By 2025

According to Odaily, the Norwegian Central Bank is progressing with its research on Central Bank Digital Currency (CBDC), aiming to make a decision by the end of 2025. Deputy Governor Pal Longva stated that Norway is not concerned about lagging behind other wealthy nations in the realm of CBDCs and is currently in the pilot phase of exploring this digital currency. In December 2023, the Norwegian Bank released the results of the fourth phase of its CBDC experiment, concluding that a retail CBDC was not necessary at that time. The bank is now extending its research to the fifth phase, focusing on wholesale CBDC applications, with plans to finalize its decision by the end of 2025.