Riksbank reopens e-krona discussion as cash use declines further

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Riksbank has resumed discussions on whether to launch an e-krona (electronic krona) as cash use continues to decline, in response to the challenges to monetary sovereignty posed by the digital euro and stablecoins. A Riksbank survey showed that Swedes used cash for only 5% of their most recent purchases; the digital euro could be launched in 2029, while growing international use of stablecoins is adding pressure. Riksbank has not yet formally backed the e-krona, and the final decision rests with Parliament; legislation, infrastructure and implementation are expected to take at least five years.