Central Bank of Spain will test digital currency

The BDE announced on Monday the call for companies that provide technological services and European financial institutions to participate in the tests that it will carry out with a CBDC

Through a press release, the Central Bank of Spain (BDE) announced on Monday that it will start testing a CBDC oriented to retail payments.

According to the statement, the entity invited financial institutions and technology service provider companies to participate in the tests in this area.

The BDE “classifies these coins as tokens running on a distributed technology platform and affirms that this collaboration will be done through the program.” The statement makes it clear that the tests are not linked to “the work carried out in the eurozone as part of the investigation into the retail CBDC, the so-called digital euro.”

Trials with the retail CBDC are conducted in three stages. First, a flow of funds simulation is launched on w-CBDC; next, we will proceed to try to “combine these currencies with the liquidation of financial assets”, and, finally, the pros and cons of launching wholesale CBDCs in the traditional financial infrastructure will be analyzed.

M.Pino

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Source: criptoperiódico

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