The Bank of Spain has announced its partnership with Cecabank, Abanca, and Adhara Blockchain for the pilot of the wholesale central bank digital currency (CBDC) program. Over the next six months, the pilot will simulate the processing and settlement of interbank payments using a tokenized wholesale CBDC and multiple wholesale CBDCs issued by different central banks. Additionally, the wholesale CBDC will be used for the settlement of a simulated tokenized bond.

Out of the 24 applications received, the Bank of Spain selected these three companies as collaborators. While Cecabank and Abanca are Spanish banks, Adhara Blockchain is headquartered in the United Kingdom.

It is worth noting that the Spanish CBDC program is separate from the digital euro project, which would cover all economies in the Eurozone if implemented. The Spanish Ministry of Economic Affairs and Digital Transformation has also announced its intention to implement the European Union’s Markets in Crypto-Assets regulation ahead of schedule. Furthermore, the Bank of Spain has published information on the nature and uses of the digital euro.

Despite these developments, a survey conducted in October revealed that only 20% of Spaniards expressed interest in using the digital euro as a complement to their regular payment methods, while 65% stated they would not.

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Information	Details
Geography	Europe
Countries	🇪🇸 🇬🇧
Sentiment	neutral
Relevance Score	1
People	None
Companies	Adhara Blockchain, Spanish Ministry of Economic Affairs and Digital Transformation, Abanca, Bank of Spain, Cecabank
Currencies	None
Securities	None