Bank of Spain launches the country's first pilot test for a digital euro Spain Centralbank digitaleuro
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In order to get the EURM deposited into their account, users will be required to enter their phone number, verify their identity using video identification and deposit real euros into their wallet through the Spanish payment app Bizum. All euros deposited will be automatically switched for digital euros, which participants can then send to other individuals or registered companies taking part in the pilot.
The EURM is not the same form of the digital euro that will be issued by the European Central Bank but is intended to serve as an initial project that can then be extended to other European countries.
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