As opposed to cryptocurrencies, which are issued privately, the digital pound would be issued by the Bank of England and be backed by the Government. The digital pound would not be a cryptocurrency or cryptoasset.

That’s why we will continue to issue it for as long as people want to keep using it. We know being able to use cash is important for many people. If we introduced it, it would not replace cash. £10 in digital pounds would always have the same value as a £10 banknote. The digital pound would be denominated in sterling and its value would be stable, just like banknotes. We call the UK version of CBDC the digital pound. You may also hear it being called ‘digital sterling’ or even ‘Britcoin’. This type of money is known as a central bank digital currency (CBDC). You would be able to use it in-store or online to make payments. The digital pound would be a new type of money issued by the Bank of England for everyone to use for day-to-day spending. News and publications Open News and publications sub menu.Option-implied probability density functions Gross Domestic Product Real-Time Database The PRA’s statutory powers and enforcement Money Markets Committee and UK Money Markets Code Greening our Corporate Bond Purchase Scheme (CBPS) Operational resilience of the financial sector Wholesale cash distribution in the futureįinancial market infrastructure supervision

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