The Bank of Spain plans to start a wholesale central bank digital currency (CBDC) project and on Monday opened a call for proposals from financial institutions and technology solution providers.

The program seeks to simulate the funds movement operations of a wholesale CBDC, the bank said in an official statement, adding that it also seeks to experiment with the integration of a wholesale CBDC with the settlement of financial assets and to analyze the possible advantages and disadvantages of its introduction.

(by Andrés Engler)