Digital Dollar Project to launch five U.S. central bank digital currency pilots

Federal Reserve Board building is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis

WASHINGTON (Reuters) - The U.S. nonprofit Digital Dollar Project said on Monday it will launch five pilot programs over the next 12 months to test the potential uses of a U.S. central bank digital currency, the first effort of its kind in the United States.

The private-sector pilots initially will be funded by Accenture Plc and involve financial firms, retailers and NGOs, among others. The aim is to generate data that could help U.S. policymakers develop a digital dollar.