Sweden’s Riksbank works on offline payments (Riksbank)

The Riksbank considers it necessary to increase the possibility of making offline payments in the event of major disruptions in data communication. In that regard, the central bank wants, by July 1, 2026, for it to be possible for everyone over the age of 18 with a payment card with any Riksbank-regulated bank, to be able to make card payments offline for the purchase of essential goods in the event of disruptions lasting up to 7 days,. The Riksbank will collaborate with banks and other payment service providers, card network providers, card acquirers and retailers, to achieve this. The Riksbank considers the technical conditions already favorable, but issues need to be resolved around administrative processes, how abuse of offline payments can be curbed and who should bear the liquidity and credit risk arising from an offline payment. [Read more at the Riksbank]

This effort is not part of the e-krona central bank digital currency (CBDC) project that ended in 2023. However, one of the basic premises of the e-krona was that it should serve as a further payment option to contribute robustness and increased preparedness. In line with this, in the fourth stage of the project, the Riksbank tested an offline solution to strengthen the reliability of the payments system even in the event of internet connection interruptions. The conclusion was that, with the right regulatory framework and security measures, a secure, fit-for-purpose and user-friendly offline e-krona solution can be developed. Security risks could be addressed with technical solutions such as digital certificates and regular synchronization, and restrictions on amounts transacted and holdings. [Read more at the Riksbank]

See also the following from the Riksbank 2025 Payments Report:

South Korea to launch a CBDC pilot (Chosun Biz)

The Bank of Korea will reportedly launch a three-month central bank digital currency (CBDC) pilot involving 100,000 consumers, as early as this month (March 2025). It will involve seven major commercial banks that will issue deposit tokens backed by CBDC, which consumers can use to make purchases at various participating merchants. The tokens, valued up to 1 million won per person, will be distributed through electronic wallets, allowing users to make payments by displaying QR codes. [Read more at Chosun Biz]

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