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Digital Money and Payment Systems 2022

A legal, economic and technological analysis of the world of Digital Money and Payment Systems in 2022

Digital Money | Payments | Digital Assets | Digital Euro | PAYMENTS | MiCA | Tokenization | European Digital Identity | Financial Sandbox | Role of Banks | Wallets | NFTs | Financial Infrastructures | Regulation | CBDCs | Cash | Pilot Regime | Cryptocurrencies | DeFi | Platforms | BigTech | Treasury | European Union

What is?

The document Digital Money and Payment Systems 2022 supposes uA useful tool to understand a truly complex phenomenon. Professionals in law, economics, finance and citizens in general may be more or less familiar with the concept of digital money, with the cryptoassets, digital identity or the technologies that are today determining the evolution of financial infrastructures, but what is extremely difficult is keep updated and have a rigorous conceptual framework and from the different prisms from which these issues must be addressed today. This is the great value of this document.  

At the initiative of Digital Money and Payment Systems Working Group of Fide we have grouped professionals from the fields of law, economics, finance and technology to help us understand this reality, propose from their respective spheres the initiatives and approaches that they consider should be taken into consideration by the national authorities or in their caso provide valuable information to all citizens interested in making responsible financial decisions. And we believe they have achieved their goal.  

Reading this document is interesting for both experts and initiates and above all, it is a complete tour of a reality that is going to change a very important aspect of our lives and of our society as a whole.  

For the English version of this document please click here

List of Authors

In this section you can find the list of authors who have contributed an original article to the document. From the Foundation Fide We would like to thank this magnificent group of professionals for their participation* in this document.

Special thanks

Pablo Hernandez de Kos

Governor of the Bank of Spain

Alfonso Gómez

General Manager of BBVA in Switzerland.

Jose Manuel Marques Sevillano

Head of the Financial Innovation Division. Bank of Spain

Gloria Hernandez Aler

Partner at finReg 360. Academic Advisor at Fide.

Alfredo Munoz

Professor of Commercial Law at the UCM. Expert of the Digital Euro Association.

Montse Guard

Co-founder and CEO of Big Onion. Academic Advisor of Fide.

Elizabeth Delgado

Counselor in the Technical and Financial Analysis Cabinet of the Public Treasury

Andres Barragan

Director of the Technical Office and Financial Analysis of the General Secretariat of the Treasury and Treasury Financing

Lorraine Mullor

Digital Banking Advisor at AEB

Miguel Angel Cestero

Managing partner at JB46 Investment Partners

Jose Luis Langa

Deputy General Director of Iberpay

Miguel Angel Fernandez Ordonez

State Economist. Former Governor of the Bank of Spain.

Gonzalo Suarez Martin

Director of Analysis and Strategy of Loomis Spain

Laura Sacristan Martin

Commercial Director of the BME Group. Academic Advisor of Fide

Diego Garcia Novillo

Lawyer. Grupo BME Legal Advisory

Santiago Marquez Solis

CTO of Clluc

Teresa Rodriguez de las Heras Ballell

Full Professor of Commercial Law at UC3M. Academic Advisor of Fide

Julius Faura

CEO of

*All the people who have participated in this working group of Fide, have done so in a personal capacity and not on behalf of the entities, offices, Universities or companies, where they carry out their professional work, so these conclusions do not reflect and do not include institutional positions but rather particular ones of each one of the members of the group.



President of the Foundation Fide.


Academic Coordination of the Foundation Fide


Director of the DDSP Working Group and Academic Advisor of  Fide


Marketing Manager of the Foundation Fide

Manuel Calero

Associate, finReg360. Copywriter of the DDSP Group of Fide


Digital Money and
Payment Systems

The “Digital Money and Payment Systems” Working Group (DDSP) results from the evolution of the Digital Currencies Group that was created in FIDE after the announcement by Facebook of the intention to launch the “Libra” cryptocurrency in 2019. 

The DDSP Group identifies, discusses and proposes about the changes brought about by the arrival of new technologies to the world of money in a broad sense, and studies the impacts and developments in payment systems, market infrastructures, financial and banking systems, and their regulation.

In parallel to current monetary and financial systems and hand in hand with technologies such as blockchain and encryption new players and financial services are emerging around crypto assets or tokenization, which provide new ways of transferring or managing value. At the same time, the tech giants are increasingly relevant players in payments and other financial spheres given their digital dominance.

This phenomenon requires not only an adjustment in the regulatory map but also in the strategy of countries and companies since it supposes its answer to the adaptation of the world of the money to the inevitable changes in the technology. And given the importance of money in the economic life of any country, this adaptation is key to the continuation of economic and social progress.


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