Posted 1/5/2024, 10:28:18 AM
Spain Selects Banks and Tech Firms to Test Wholesale CBDC for Interbank Payments and Bond Settlement
- Banco de España chose Cecabank, Abanca, and Adhara Blockchain as partners for CBDC testing after receiving 24 applications over the past year
- Pilot will simulate processing and settlement of interbank payments with a tokenized wholesale CBDC over 6 months
- Consortium of Cecabank and Abanca will also test settling a simulated tokenized bond with the wholesale CBDC
- Spanish CBDC program is independent from broader digital euro project covering the eurozone
- Spain announced it will implement the EU's crypto regulation 6 months before deadline