What it is
The digital pound (sometimes called "Britcoin" in the press) is a proposed retail CBDC under study by the Bank of England and HM Treasury. It is in a design phase; no decision to build has been taken.
How it works
Design proposals describe a public-private model in which the Bank of England issues the digital pound and private firms provide wallets, with privacy protections and holding limits under consultation.
How it differs from crypto and stablecoins
A digital pound would be central-bank money, distinct from sterling stablecoins or crypto-assets, and intended to sit alongside cash.
What it means for the market
The UK debate is a useful window on privacy, holding limits, and the balance between public money and private innovation.
Primary sources
Frequently asked questions
Has the UK decided to issue a digital pound?
No. As of this review it is in a design phase and no decision to build has been taken. See the Bank of England for current status.