What is the digital pound?
The digital pound would be a new type of money issued by the Bank of England…
Why is the Bank of England looking into the digital pound?
The world we live in is becoming more and more digital. As a result, we aren’t using cash as much as we used to.
To keep up with changing times, the Bank of England and HM Treasury are looking at the idea of a digital pound. This would be an electronic version of cash issued by the Bank of England and accessed by digital wallets provided by companies.
You’d be able to spend your digital pounds in the shops and online, using your phone, as well as sending them to friends and family. And you would also still be able to pay with cash or money in your bank, even if we go ahead with the digital pound.
We know people think this could be useful, but we haven’t made a final decision whether to launch one. A few countries already have their own version of a digital currency and over 100 others are thinking about it.
We think a digital pound might offer a new way to pay, help businesses, build trust in money, and better protect our financial system.
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Would the Government or the Bank of England be able to control or monitor my digital pounds?
Would there be a vote on a digital pound and would I get a say?
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This page was last updated 15 December 2025Figures reflect the source report and its stated period. This article is for information and is not investment advice.
