In an opening address at the Central Bank of Ireland’s Future of Finance conference, Riksbank Governor Erik Thedéen called for new payment methods and solutions to be appropriately regulated, supported by close public-private cooperation and embedded in payment systems capable of withstanding internal and external disruptions. Central banks must understand and respond to pressures from digitalization, new market participants and decentralized ledger technology rather than assume that the financial system will adapt automatically. Thedéen said stablecoins and tokenized deposits could improve the speed, cost and cross-border reach of payments while spurring established providers to modernize, although they are unlikely to replace commercial bank or central bank money. He warned that decentralized systems may blur responsibility for accurately recording transactions and that rapid digitalization can create exclusion and operational vulnerabilities. Sweden’s response to declining cash use has included work on regulated cash access, greater central bank operational responsibilities and stronger offline capacity for digital payments.
2026-09-18Riksbank
Sweden's Riksbank Governor urges regulation, cooperation and resilience as payments evolve
Riksbank Governor Erik Thedéen called for appropriate regulation of new payment solutions, closer public-private cooperation and more resilient payment systems. He said central banks must actively manage risks from digitalization and decentralized technology while allowing innovations such as stablecoins and tokenized deposits to improve competition and efficiency.