UK’s Bank of England launches digital pound project as ‘new form’ of money

The Bank of England, the UK’s central bank, launched its long-awaited digital pound project, pitching the potential to create a new payment system and form of money. 

The potential digital currency would be issued solely by the central bank, with households and businesses able to hold the currency in a digital wallet accessible via smartphones or cards, a consultation document published on Tuesday said. 

Read more: The Block