The Bank of England has officially launched the digital pound CBDC project, which it describes as a “new form of money” for households and businesses. The Bank of England and HM Treasury released an official consultation paper outlining the new project and the various aspects of the digital pound. The CBDC project from the United Kingdom has been in the works for some time, with many people anticipating its eventual release. The digital currency would be issued by the country’s central bank, according to the documents. It would be accessible to households and businesses via digital wallets.