Bank of England sought proof-of-concept for a CBDC wallet.
Applications for the wallet can be made until December 23.
Bank of England Searches for CBDC Wallet
While the UK central bank has stated that it will not develop a wallet on its own, it wants to explore the “end-to-end user journey as a way to sharpen functional requirements for both the Bank and the private sector” and make the CBDC product more tangible. The planned wallet is thought to support both Android and iOS.
The bank previously stated that no work has been done on a sample wallet for a potential CBDC. The budget for the first five months of work on the wallet was determined as 200,000 pounds.
The bidding process for the CBDC wallet came as Finance Minister Jeremy Hunt shared on Friday a package of 30 regulatory reforms for UK financial services, including the issuance of digital pounds. The Edinburgh Reforms aim to boost post-Brexit economic growth and encourage innovation.
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