Published On: 25/01/2023Categories: News of interest-training

EURO DIGITAL PROJECT

The Bank of Spain has authorized Spanish fintech Monei’s digital euro project for the ‘sandbox’, which aims to facilitate at European level the sending of euros and online payments through the creation of a token (EURM) that uses ethereum and polygon blockchain technology.

Each token will represent one physical euro, the total of which will be held in two safekeeping accounts at BBVA and Caixabank. In the test phase, the user has to enter his phone number, match his identity via video identification, and load the wallet with real euros via Bizum.

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Bank of Spain authorizes Monei’s digital euro project for the sandbox

 

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