The Central Bank of Spain is planning to launch an experimental central bank digital currency (CBDC) project next month, after inviting financial institutions and technology firms to submit proposals.

According to a bank release, the program aims to simulate the use of CBDC in wholesale transactions.

Unlike retail CBDC, which is typically distributed to the general public and can be used to replace fiat currency in retail transactions, wholesale CBDC is only used by financial institutions. Wholesale transactions involve the movement of money (cash) between banks and financial institutions.

Source: https://mycryptoparadise.com/bank-of-spain-to-launch-experimental-wholesale-cbdcs/