The European Central Bank (ECB) has been assigned the responsibility of developing the digital euro, while individual countries within the eurozone are actively contributing to advancements in both retail and wholesale versions of the euro.
In this context, Banco de España has initiated an experimental program with the aim of enhancing its understanding of wholesale central bank digital currencies (w-CBDC). This program stands separate from the digital euro-related efforts undertaken by the Eurosystem. It is an exclusive initiative led by Banco de España, focusing on three primary areas:
- Simulating transactions that involve the transfer of funds using w-CBDC.
- Conducting experiments to integrate a w-CBDC into the settlement of financial assets.
- Analyzing potential benefits and drawbacks of a w-CBDC concerning conventional processes, procedures, and infrastructures.
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