Monei Launches Euro-Pegged Stablecoin Test under Bank of Spain Supervision

Monei Launches Euro-Pegged Stablecoin Test under Bank of Spain Supervision

Fintech firm Monei has now initiated a pilot program for a stablecoin pegged to the euro, known as EURM, under the oversight of the Bank of Spain. This pilot, which commenced in January as part of the regulatory sandbox, involves a select group of individual participants to ensure a low margin of error. The purpose […]

The Bank of Spain Advances CBDC Testing with Selected Partners

The Bank of Spain Advances CBDC Testing with Selected Partners

A year after issuing a call for collaboration on central bank digital currency (CBDC) tests, Spain’s Banco de España has now selected its partners. The announcement, made on January 3, identified Cecabank, Abanca, and Adhara Blockchain as the chosen collaborators among 24 applicants. Over the next six months, a pilot will be conducted focusing on […]

European Central Bank Advances Digital Euro Project to Preparation Phase

European Central Bank (ECB) Advances Digital Euro Project to Preparation Phase

The European Central Bank (ECB) is gearing up to bolster the euro’s digital future. In an announcement made today, the ECB disclosed its decision to transition into the next stage of the digital euro project, marking the commencement of the preparation phase. This development comes on the heels of an extensive investigation phase that began […]

Spanish Banks Investigate Merging of Digital Euro into Current Payment Frameworks

Spanish Banks Investigate Merging of Digital Euro into Current Payment Frameworks

Whilst the future of the digital euro is still unknown, some Spanish banks have recently unveiled the outcomes of their digital euro trials, prominently featuring their experiments with Bizum, the bank-backed payment app that’s familiar to half of Spain’s populace. Prominent Spanish banking institutions like Santander, BBVA, CaixaBank, and Sabadell actively engaged in this trial. […]

Spain’s Central Bank Opens Call for Proposals for a Wholesale CBDC Project

Spain’s Central Bank Opens Call for Proposals for a Wholesale CBDC Project

Source: Coindesk The Bank of Spain plans to start a wholesale central bank digital currency (CBDC) project and on Monday opened a call for proposals from financial institutions and technology solution providers. The program seeks to simulate the funds movement operations of a wholesale CBDC, the bank said in an official statement, adding that it also […]