Banco de España, commonly known as the central bank of Spain, is planning to examine the effects of digital currency. The Bank of Spain disclosed this endeavor as it revealed its 2020-2024 strategic plan, which mostly summarizes its vision and goals for the next four years.
Extensive investigation of a central bank digital currency (CBDC) has been highlighted as part of the four-year strategic plan and will begin this year and last through the end of 2021.Notably, Juan Ayuso Huertas, Director General of the Bank of Spain, is very active in examining CBDCs.
He said, “Regardless of its importance, expanding access to a Central Bank’s balance sheet by making a CBDC available to households & non-financial corporations is only one of many ways in which tech innovation may help enhance the monetary & payment system.”
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