Following the statement this morning by the Bank of England and HM Treasury looking at a Central Bank Digital Currency (CBDC), LINK, the UK's main ATM cash machine network, have responded:
John Howells, CEO, LINK:
“LINK welcomes the Bank of England and HM Treasury's announcement of a Taskforce to coordinate exploring the potential of a CBDC. In particular, LINK agrees that high levels of financial inclusion and the ability to work alongside physical cash are key consideration.
As use cash continues to decline, it is essential that new digital innovations such as CBDC are set up to work for all consumers and in a way that supports physical notes for as long as it needed.
LINK is committed to supporting the Bank in this important initiative."