Banks in Spain have set up a working group to test the concept of a digital Euro.
In Brief:
The banking sector will assess the impact of a digital Euro.
It will include up to 30 banks in Spain which will roll out a proof of concept.
This should be completed by the end of the year so it can be tested through various use cases.
What does this mean?
Some use cases of interest for the digital Euro include person-to-person remittances, e-commerce and physical retail. The banks will look to test these and examine the implications a digital Euro will have on those processes.
