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Norway’s central bank has taken a significant step back from advancing a national central bank digital currency (CBDC), announcing that it will not recommend moving forward with a digital krone at this time. This decision demonstrated that the country is reassessing the urgency of implementing retail and wholesale CBDCs. The announcement was made public after the central bank released a statement on Wednesday, December 10, noting that the current payment system in Norway already offers safeguarded, effective, and cheaper transactions, easing the need for a CBDC. However, this did not imply that Norway’s central bank is not open to the concept of introducing a CBDC in the future. Norges Bank drops CBDC plan after years of testing  In a statement, Ida Wolden Bache, the Governor of Norges Bank, confirmed that Norway’s central bank discovered that the country does not require a central bank digital currency at this moment. However, she still insisted that the urgency for launching a CBDC might change in the future. According to Bache, if the central bank ever believes the country needs an effective and secure payment system, it will prepare for the introduction of a CBDC. This decision was embraced after the central bank assigned skilled experts to test various models for both retail and wholesale CBDCs for several years. The practice included trials utilizing token-based settlements on blockchain technology.  Notably, Norway’s central bank interest in CBDC grew in 2023 when it participated in Project Icebreaker, a multi-central bank research initiative centred on the technological feasibility of interlinking different domestic central bank digital currency systems for international payments. Later in 2024, Norges Bank considered several factors. After careful thought, Kjetil Watne, who heads Norges Bank’s CBDC project, told reporters that if the central bank decided to issue CBDCs, these would be made available alongside cash and other…

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Filed under: News - @ December 11, 2025 1:33 pm