Skip to Content

Britcoin? UK gets closer to launching a digital currency


Associated Press

LONDON (AP) — Britcoin is moving closer to reality. U.K. authorities say British businesses and consumers are likely to need a digital version of the pound. They formally asked for public comment Monday on the idea of introducing a central bank digital currency. Britain is home to the world’s second-biggest financial center but is trailing former colonies like Nigeria, the Bahamas and Jamaica in rolling out a digital currency. Consultant PwC says more than 80% of the world’s central banks are considering launching digital currencies or have already done so. It would be backed by the Bank of England, which says the new currency would be “reliable and retain its value over time.” That contrasts with cryptocurrencies that can fluctuate wildly.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press


KTVZ NewsChannel 21 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content