Today Iberpay and most of Spain’s banks shared plans to simulate digital euro payments during Proof of Concept trials this year. The 29 banks, including BBVA, Sabadell, Santander, ING and Deutsche Bank, are joined by payment services organizations Iberpay, Bizum and Redsys.
The group acknowledges that this relates to a possible issuance of a central bank digital currency (CBDC), as the Eurosystem CBDC research will only finish in October 2023. A decision on whether to issue a digital euro will only be made after that.
The Spanish banks want to test how a retail CBDC would be included in the current payment infrastructures, including banks, processors and other offerings such as the local instant payment system Bizum.
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