Global: Bank of England invites businesses to help shape the future digital pound

The Bank of England (BoE) is launching a series of engagements with businesses to assess how a digital pound could impact day-to-day operations across different sectors.

The conversations aim to identify where a retail digital pound might add the most value and which features would benefit—or challenge—businesses of varying sizes and models.

The initiative comes as the BoE continues its design phase for a potential UK central bank digital currency (CBDC), with the goal of defining a clear, workable proposition. Earlier this year, the Bank announced plans for a Digital Pound Lab, a sandbox designed to test APIs, explore innovative use cases, and trial new business models with Payment Interface Providers (PIPs) and External Service Interface Providers (ESIPs).

The BoE is now seeking fresh input from companies that have shown interest in the digital pound but have not yet participated in the Lab. According to the Bank, the new case studies will complement the Digital Pound Lab by offering deeper insight into the practical business implications of various CBDC features, especially for merchant adopters.

Applications are open until 9 January 2026. Successful participants will be selected by late January, with bilateral workshops scheduled for February and March. Businesses from all sectors are eligible, provided they are interested in the digital pound but are not currently conducting hands-on testing in the Lab.

The initiative comes amid increasing scepticism over the need for a UK CBDC. Reports in July suggested the BoE may reconsider moving forward with a digital pound, instead encouraging the banking industry to accelerate other payment innovations that could deliver similar benefits.

A similar stance has emerged in Norway. Norges Bank recently stated that it is not recommending the immediate introduction of a CBDC but remains prepared to act if needed. “We will be ready to introduce a central bank digital currency if it becomes necessary to maintain an efficient and secure payment system,” said Governor Ida Wolden Bache.