Five Spanish banks successfully tested tokenized deposits on Hedera's HashSphere network, with instant interbank settlement and regulatory compliance.
RWA & Tokenization ·
Five Spanish banks conducted a test of tokenized deposits using Hedera's HashSphere network, a private layer within the Hedera architecture. The trial, organized by Ceceabank, involved institutions representing over $400 billion in combined assets and included Boston Consulting Group as a strategic partner. Interbank transfers of the tokenized deposits settled instantly across the network while maintaining full regulatory compliance—deposits remained covered by Spain's Deposit Guarantee Fund and the legal status of the money itself did not change.
The technical foundation for the test relied on Asseto, a platform built by ioBuilders and now offered through Hashgraph. The trial demonstrated end-to-end functionality for deposit tokenization across multiple participating banks without requiring modifications to existing regulatory or fund protection frameworks.
This experiment extends prior work; Ceceabank had already conducted a tokenized bond trial with the Bank of Spain in 2024. The current test represents a shift toward incorporating public distributed ledger ecosystems into institutional settlement workflows, though it remains unclear whether this model will expand beyond the pilot phase or how quickly similar trials may follow at other institutions.