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Digital Money and Payment Systems


The Digital Currencies Working Group begins a new stage under the name "Digital Money and Payment Systems", to continue analyzing the changes in the world of money and its intermediaries. Increasingly, technology offers new options and both central banks and other regulators, banks and tech startups are analyzing and implementing new initiatives.

In this new stage the group intends to address the following issues:

  • CBDC, stablecoins and cryptocurrencies
  • Crypto assets and tokenization
  • Major / minor payment systems, consortia and other initiatives such as the European Payment Initiative
  • Market infrastructures and Decentralized Finance
  • Banking system, EDEs and superapps platforms
  • Changes in regulation, inquiries and country differences
  • Current technology vs DLT, Smart Contrects, AI and IoT. Use cases and transition
  • Design options and theoretical models
  • Sectoral, social, economic and political impacts
  • Use cases and national and global initiatives

Performed activities


Stage 1. Digital Currencies

Conclusions of the Working Group on Digital Currencies

Under the joint direction of Enrique Titos, Independent Director. Advisory Councilor. Member of the FIDE Academic Council, and Miguel Ángel Cestero, former global director of market-making of Banco Santander: The GT Monedas Digitales published the following conclusions:

See on page of GT Digital Coins


Libra by Facebook A paradigm shift in the financial field?

Digital Currencies and CBDC; Evolution, Challenges and Opportunities

Regulation and Current Context of Digital Money and Cryptocurrencies


The digital euro and the consultation paper

December 9, 2020

The financial sandbox in Spain

January 27, 2021

European Strategy in Retail Payments and major trends in payments

February 18, 2021

Cryptocurrencies and Decentralized Finance (DeFI)

March 22, 2021

The European Payments Initiative (EPI): Will Europe preserve its sovereignty in the field of payments?

April 22, 2021

Digital Market Act (DMA)

May 27, 2021

Alternative financing and the role of a market infrastructure

June 24, 2021

The issuance of the Digital Euro: from theory to practice

July 8, 2021

CBDCs and tokenized currencies of commercial banks

July 15, 2021

Geopolitics and digital money

September 16, 2021

Group Director

Enrique Titos

Independent Director. Member of the FIDE Academic Council
Academic coordination: Belén Blanco and Victoria Dal Lago


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