Derived from Criptonoticias, Spain's payment sector is undergoing rapid transformation driven by technological innovation and financial advancements. Cryptocurrencies are enabling secure and near-instant transactions, while Open Finance is enhancing integration and efficiency across financial services. New crypto projects are being designed to work with existing payment systems, offering cryptographic security and faster settlement. The implementation of the EU's Immediate Payments Regulation is expected to allow transactions in under 10 seconds. Open Finance is expanding beyond banking to include insurance and wealth management, with well-designed systems potentially boosting operational efficiency by up to 30%. Cybersecurity remains a critical concern, with regulations like DORA enforcing strict operational resilience standards. AI is also playing a growing role in risk management and automation. The future of digital euro remains debated, with experts calling for a balanced approach to ensure innovation and competition.
Spain's Payment Sector Evolves with Cryptocurrencies and Open Finance
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