Bank of Spain announces collaborators for CBDC pilot program
The Bank of Spain has chosen Cecabank, Abanca, and Adhara Blockchain as collaborators for a six-month pilot exploring CBDCs, separate from the digital euro initiative. Spain’s central bank, Banco de España, has made strides in exploring central bank digital currencies (CBDC), revealing key collaborators a year after issuing an open partnership call. The chosen partners include Cecabank, Abanca, and Adhara Blockchain, selected from a pool of 24 applicants. Adhara Blockchain, headquartered in the United Kingdom, adds an international dimension to this Spanish initiative. You might also like: Fintech firm Dave to pay FTX liquidators $71m The pilot phase of the wholesale CBDC project, set to unfold over the next six months, involves interbank payment processing and settlement simulations. The focus lies on using a single tokenized wholesale CBDC and exchanging wholesale CBDCs from various central banks. Additionally, the experiment will employ the Cecabank-Abanca cons...