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

Share this!

Published: December 7, 2022

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 seeks to experiment with the integration of a wholesale CBDC with the settlement of financial assets and to analyze the possible advantages and disadvantages of its introduction.

Interested parties will have until January 31, 2023 to submit their respective applications, the bank said. It added that the program for a wholesale CBDC is not related to the research work the European Union is doing on a retail CBDC, also known as digital euro.

About the Foundation

Whilst most CBDC experiments have involved private sector technology providers, the overwhelming majority of these experiments, to date, have not involved participation from other private sector actors. The Digital Pound Foundation is unique in proposing a model whereby the public and private sectors can fully engage in the design, development and adoption of a digital Pound, thus contributing to its successful roll-out and helping drive forward the UK’s transition to a digital economy.

Join our community

Collaborate with other members through our various working groups, discussing and building concepts around use cases and payments, innovative approaches to privacy, identity, and sustainability, and addressing legal and regulatory concerns collaboratively. Join our events, both in-person and online, and participate across our panel discussions, roundtables, and webinars. Meanwhile, our audience is large and growing quickly, providing members with additional outlets to share and amplify their latest news and developments.