A group of private sector professionals launched the Digital Pound Foundation, an organization that aims to promote the development of the U.K.’s central bank digital currency (CBDC).

  • The foundation will conduct research, advocate and enable multi-stakeholder collaboration to help the design and roll out of a digital pound, according to a Thursday press release.
  • Jeremy Wilson, former vice-chairman of Barclays Investment Bank and a director at Nedbank Private Wealth International, will chair the group.
  • Founding members and affiliates include consultancy Accenture, decentralized finance protocol Avalanche, blockchain developer Billon Group, IT and business consulting firm CGI Group, cryptocurrencies Electroneum, Quant and digital-payment service Ripple.
  • The Bank of England has itself set up two forums to explore the creation of a digital pound. Members, announced in September, include financial juggernauts such as HSBC, tech giants like Spotify, and household names like Asos.

Read more: Bank of England Official: It’s ‘Probable’ UK Will Launch a Digital Currency

By robert