The Bank of England has become the latest central bank to collaborate with the Massachusetts Institute of Technology on research into central bank digital currency (CBDC). The Bank of Canada and the Boston Fed are engaged in similar research projects. 

Introducing a CBDC in the UK would be a “major national infrastructure project”, the BoE said in a statement released on March 25. At this stage, no decision has been made on whether to launch a CBDC. 

The 12-month project with MIT will focus on