External service interface provider

Central bank digital currency (CBDC) - intermediaries - Bank of England.

(ESIP).

An External Service Interface Provider is a Bank of England proposal for intermediaries to support consumers' access to a possible CBDC.

ESIPs include payment interface providers, and other service providers, for example providers of information.

Private sector firms would deal with all user-facing interactions

"The Bank [of England] and HM Treasury have proposed a public-private platform model for the provision of a digital pound. In this model, the Bank would build and operate the ledger – a highly secure, fast and resilient technology platform.

Regulated private firms – payment interface providers (PIPs) and external service interface providers (ESIPs) – could then access the core infrastructure via application programming interfaces (APIs).

These private sector firms would deal with all user-facing interactions, including handling customers’ information, and be able to develop and offer innovative services using a digital pound."

An outline of the Bank of England's initial thinking on the potential aims, scope and focus areas of a digital pound blueprint - January 2025.

See also

• Account
• Bank of England
• Blockchain
• Britcoin
• Central bank
• Central bank digital currency (CBDC)
• Cryptocurrency
• Currency
• Digital currency
• Distributed ledger
• HM Treasury
• House of Commons
• Payment Interface Provider (PIP)
• Payment service provider (PSP)
• Retail central bank digital currency
• Stablecoin
• Wholesale central bank digital currency (wCBDC)

Other resources

• An outline of the Bank of England's initial thinking on the potential aims, scope and focus areas of a digital pound blueprint - January 2025
• Central bank digital currencies - House of Commons Library - April 2022