The Bank of Spain has announced a wholesale CBDC program.
As per the bank’s official statement, it is unrelated to the EU Initiative.
Banks Spain has proposed a wholesale CBDC project, according to the coin desk on Monday. The proposal is for various financial institutions and technology service providers. According to an official statement from the bank, the program intends to increase the usage of CBDCs in wholesale transactions.
Wholesale transactions are those in which revenues are transferred between banks and financial institutions. Furthermore, the official statement stated that it intends to experiment with the integration of a Wholesale CBDC with financial assets and to assess the potential benefits and drawbacks of its implementation.
The companies who are interested in the project have all filed bids before the deadline, January 31, and have also stated that the initiative is unrelated to any research effort in the European Union.
The EU is exploring possible retail CBDC,
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