Minsait marks a milestone in financial innovation and successfully concludes bank of spain’s digital token experimentation program
The company has signed a collaboration agreement with the Bank of Spain to carry out tests to meet the objectives of this program which, following the example of other central banks, has analyzed how the application of this value units in the financial market can respond to the needs of an increasingly digital society
Minsait, company of Indra Group, has successfully completed its participation in the Bank of Spain’s experimentation program, focused on the use of digital tokens in the financial sector. This project, part of the Banco de España's innovation initiatives, has explored how this technology can improve efficiency and traceability in financial transactions, although any future developments in this area would operate within the broader framework of the Eurosystem.
Launched in May 2024, the project investigated the issuance and settlement of digital assets on a single DLT platform (Distributed Ledger Technology), aiming to explore potential improvements in efficiency, security, and agility in wholesale market settlement. The experimentation program on the use of wholesale central bank digital currencies (known as wholesale CBDC) offers the Banco de España an opportunity to collaborate with the private sector to explore the advantages and disadvantages about the use of this emerging technology.
Specifically, this initiative allows us to analyze to what extent the application of these tokens in the field of financial market infrastructures could serve to accelerate their adaptation to the needs and demands of an increasingly digital society. During this experimentation phase, several use cases were developed and tested, including the issuance of a wholesale central bank digital currency (wCBDC), the creation of tokenized bonds, delivery versus payment (DvP), coupon payments, and amortization, among others.
(For further details on the results and conclusions of the experimentation, the final report is available here)
Minsait's work in this program reinforces its commitment to technological innovation and its ability to collaborate with leading institutions in digital transformation. The results provide valuable insights for the development of blockchain-based solutions and digital tokens, contributing to a more robust financial ecosystem prepared for future challenges.
This achievement positions Minsait as a leading technology partner, capable of delivering innovative solutions for the evolution of the financial sector, always in compliance with the standards and guidelines set by regulatory authorities.