According to Odaily, last year, the Italian Banking Association (ABI) announced that it would pilot a wholesale Central Bank Digital Currency (wCBDC), known as the Leonidas Project, as part of the Italian banking sandbox. The association revealed the results of the trial last week, declaring it a success. The primary benefits were atomic transactions, transparency, and traceability of information.
The test was conducted in 2023, with plans to carry it out before the European system announced the use of central bank funds for wholesale DLT trials. The trial used two different models of wholesale CBDC. Participants in the trial included ABI, 16 banks, blockchain company R3, Spunta technology partner NTT Data, and the Milan Center of the Italian Banking Innovation Center.