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Nobel’s charity trust to lobby CBDCs with new initiative

nobels-charity-trust-to-lobby-cbdcs-with-new-initiative
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Nobel’s charity trust to lobby CBDCs with new initiative

A newly formed organization will begin a dialogue among central banks to support adapting technical standards of different CBDC solutions.

The Nobel Sustainability Trust (NST), a charity established by the members of the Nobel family, is set to push the adoption of central bank digital currencies (CBDCs) with a new initiative called Central Bank Digital Currency Collaboration Organization (CBDCCO).

According to a press release, the program aims to facilitate “efficient and reliable carbon asset life cycle management” for central bank digital currencies.

With CBDCCO, the trust wants to begin a dialogue among central banks to support integrating “innovative digital financial infrastructure” developed by central banks and organizations such as BIS, IMF, and World Bank.

“Digital currencies present a unique opportunity to rebuild and reshape our financial systems with sustainability at their core.”

Peter Nobel, the Chairman of NST

Moreover, the organization is also said to support the adaptation of technical standards of different CBDC solutions to make state-issued digital currencies mutually convertible on an international level.

The newly formed organization is expected to start operation in January 2024.

Founded in 2007, the Nobel Sustainability Trust was established to encourage the research, development, action, and implementation of sustainable solutions, as per the charity’s official website. The trust is financially supported by sovereign entities, family offices, and corporations “who support its agenda.”