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Digital Pound Foundation Launches to Push for UK CBDC

The Bank of England has also set up forums to explore a digital currency.

Updated May 11, 2023, 5:46 p.m. Published Oct 14, 2021, 8:42 a.m.

The Bank of England (Peter Dazeley/Getty Images)

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

The foundation will conduct research about and advocate for a digital British pound, and get multiple stakeholders to work together to help design and roll out the currency, according to a Thursday press release.
Jeremy Wilson, former vice chairman of Barclays Investment Bank and a director at Nedbank Private Wealth International, will serve as chairman of 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 and Quant and digital-payment service Ripple.
The Bank of England has 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 retailers such as Asos.

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Eliza Gkritsi

Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI, having previously covered mining for two years. She previously worked at TechNode in Shanghai and has graduated from the London School of Economics, Fudan University, and the University of York. She owns 25 WLD. She tweets as @egreechee.