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Bank of Spain Collaborates with Cecabank, Abanca, and Adhara Blockchain for CBDC Tests

Spain’s central bank, Banco de España, has revealed its selected collaborators for the testing phase of the central bank digital currency (CBDC) initiative, a year after issuing a call for collaboration. Out of 24 applications received over the past year, Bank of Spain has chosen three collaborators. The resolution, published on January 3, disclosed partnerships with Cecabank, Abanca, and Adhara Blockchain for the upcoming six-month pilot of the wholesale CBDC. The testing phase will involve simulating the processing and settlement of interbank payments using a single tokenized wholesale CBDC. It’s important to note that the Spanish CBDC program is distinct from the digital euro project.

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