RATE Group | Cash is Disappearing in Sweden at Rapid Rate: Market For Crypto?
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Cash is Disappearing in Sweden at Rapid Rate: Market For Crypto?

27 Nov Cash is Disappearing in Sweden at Rapid Rate: Market For Crypto?

Posted at 20:44h in Cryptocurrency News by

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Bitcoin Sweden



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Half of Sweden’s retailers predict that the country will stop accepting cash by the end of 2025, the New York Times reported. Sveriges Riksbank, the central bank of the country, is already testing a digital currency called the e-krona. Could the declining usage of cash in Sweden lead to a potent market for crypto?

Preparing For a Cashless Society

Commercial banks, businesses, and individuals in Sweden are preparing for the creation of a completely cashless society within the next decade.

Stefan Ingves, the governor of Riksbank, said:

“When you are where we are, it would be wrong to sit back with our arms crossed, doing nothing, and then just take note of the fact that cash has disappeared. You can’t turn back time, but you do have to find a way to deal with change.”

The country and its government are well aware that cash is…

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