European payment platform Monei has announced the start of the testing phase of EURM, a euro-pegged stablecoin, as part of the Bank of Spain’s national financial sandbox. The token will leverage Ethereum’s and Polygon’s blockchains, allowing each one of a reduced number of users to issue 10 EURM during this phase. Monei Rolls Digital Euro…
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The Bank of Spain has announced that Adhara, a treasury and transactions payment platform, and a consortium formed by Cecabank and Abanca, two private banks, will be its partners in the development of several upcoming wholesale central bank digital currency (CBDC) trials, which will be complete outside of the ongoing digital euro process. Bank of…
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Source: iStock/Zerbor 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,…
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Source: AdobeStock / Proxima Studio The Bank for International Settlement (BIS) has released the final report on Project Tourbillion, its privacy-inclined Central Bank Digital Currency (CBDC) project. A Nov 29 release shows a pathway to achieving privacy standards in CBDC deployment and usage with two prototypes; eCash 1.0 and eCash 2.0 alongside other features geared…
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Source: Pixabay / Hans The Governor of Spain’s central bank, Pablo Hernandez de Coz says there is no urgent desire among users in the jurisdiction for a Central Bank Digital Currency (CBDC), explains the digital euro’s roadmap. In a recent speech at the Annual Convention of the Associacion de Mercados Financieros, Madrid, the central bank…
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A recent report issued by the Bank of Spain that inquires about how Spaniards use cash for payments has revealed the low degree of confidence they have in a hypothetical digital euro. 65% of the citizens surveyed reported that they would not use the digital euro as they feel comfortable with the payment options available…
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Source: Pixabay / Hans Banco de España, Spain’s central bank, is aligning with its European counterparts to introduce their customers to the possibilities of the digital euro, a central bank digital currency (CBDC). In a move that signals the central bank’s proactive stance, a brief document was released on October 19, shedding light on the…
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Ensuring low-value digital euro transactions are not traced is one of the recommendations made by two data protection agencies in the EU. The independent bodies have presented their joint opinion on the proposed regulation for the upcoming digital version of Europe’s common fiat currency. Independent EU Regulators Insist on Embedding Data Protection in the Design…
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The Bank of Finland (BOF) has taken the lead in spearheading the development of a Finnish instant payment solution that aligns with European standards. During this year’s fifth Euro and economy publication event on October 19, Tuomas Välimäki, a member of the Governing Council of the European Central Bank (ECB) and a board member of…
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The European Central Bank (ECB) has decided to move its digital euro project to the next phase after two years of investigation. The “preparation phase” of the digital euro will involve “finalizing the digital euro rulebook and selecting providers that could develop a digital euro platform and infrastructure.” Digital Euro Proceeds to ‘Preparation Phase’ The…
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