Banco de España is launching an experimentation programme in the field of wholesale central bank digital currencies (w-CBDC) for which it seeks collaboration of interested participants, both financial institutions and technology solution providers. For the purposes of this exercise w-CBDCs are to be understood as tokens issued on a platform supported by distributed technology.
The programme is not related to the work that is being carried out by the Eurosystem as part of its research on a digital euro, but is an exclusive initiative of Banco de España which is constrained to the assessment of the actual potential offered by w-CBDCs in accordance with the current state of technology and its expected evolution over time.
The programme is focused on three main areas:
(i) simulating transactions involving w-CBDCs funds transfers;
(ii) trialling the integration of a w-CBDC with the settlement of financial assets; and
(iii) analysing the potential advantages and disadvantages of a w-CBDC vis-a-vis traditional processes, procedures and infrastructures. Specific details of the different use cases can be found in the call for interest document that is published alongside the information note.
Organisations interested in being part of this programme – whether individually or as part of a consortium, group or similar structure – must meet the minimum requirements laid down in the call and should submit their application via Banco de España’s Electronic Register.
The deadline to submit applications is 31 January 2023.