What is a digital pound and how would I use it?

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Treasury and the Bank of England are designing a “digital pound” which could be launched by the end of the decade. A digital pound would be a currency that does not exist as physical money, such as notes or coins. Nevertheless, the Treasury and Bank of England have stressed that one digital pound would equate to the same value as one physical pound coin. The Treasury has also said that any digital pound would exist alongside – rather than replace – cash and bank deposits, meaning people could continue to own cash if there is still a demand.