The Bank of Spain has planned to test the wholesale CBDC – the digital currency of the central bank.
Testing will take place outside the digital euro program.
The Bank of Spain – BDE – has revealed a plan to experiment with its own wholesale CBDC.
Now the country’s main regulator is looking for partners among financial and IT companies for testing.
Wholesale CBDC is a type of digital currency that banks usually use to store reserves in the Central Bank. By comparison, a retail or universal CBDC is available to ordinary citizens for use.
The Bank will evaluate three working points for a government digital currency:
-the movement of funds;
– the liquidation of financial assets;
-the advantages and disadvantages of introducing a wholesale coin into an established environment and current processes.