The Bank of Spain selects partners for the CBCC investigation

A year after publishing an open call for partners to experiment with central bank digital currency (CBDC) experiments, Spain's central bank, Banco de España, has selected its partners. On January 3, the central bank published a decision that describes the partnership with Secabank, Abanka and the Aadhaar blockchain.

The wholesale CBC pilot will be conducted over the next six months and will demonstrate the simulation of processing and settlement of interbank payments.

In another trial run with the help of the Secabank-Abanka Consortium, a mass CBCC is used to arm the simulated bond.

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Three companies were selected out of 24 applications received by the central bank last year. While both Secabank and Abanka are Spanish, Aadhaar Blockchain is headquartered in the United Kingdom.

Spain's CBCC program is somewhat unique as it has been officially declared independent of the Digital Euro project, which would cover all economies in the Eurozone if implemented. Meanwhile, the Spanish Ministry of Economic Affairs and Digital Transformation announced the deadline for the implementation of the Crypto-Assets Regulation in the European Union markets six months ago. And in October, the Bank of Spain published an article describing the nature and uses of the digital euro.

The Spaniards themselves have not expressed their intention to use the digital euro. According to a survey conducted in October, only 20% confirmed that they would use the pan-European CBCC to supplement their regular payment method, while 65% said they would not.

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