Digital Pound Foundation Launches to Push UK CBDC Efforts

A group of private sector professionals launched the Digital Pound Foundation, an organization that aims to promote the development of the U.K.’s central bank digital currency (CBDC).

The foundation will conduct research, advocate and enable multi-stakeholder collaboration to help the design and roll out of a digital pound, according to a Thursday press release.Jeremy Wilson, former vice-chairman of Barclays Investment Bank and a director at Nedbank Private Wealth International, will chair the group.Founding members and affiliates include consultancy Accenture, decentralized finance protocol Avalanche, blockchain developer Billon Group, IT and business consulting firm CGI Group, cryptocurrencies Electroneum, Quant and digital-payment service Ripple.The Bank of England has itself set up two forums to explore the creation of a digital pound. Members, announced in September, include financial juggernauts such as HSBC, tech giants like Spotify, and household names like Asos.

Read more: Bank of England Official: It’s ‘Probable’ UK Will Launch a Digital Currency

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