The BASQUEFIK meeting, held at the B Accelerator Tower in Bilbao, has highlighted one of the most relevant transformations that the financial system faces and, by extension, the foreign trade and international investmentsTechnological innovation and the new regulatory framework are redefining the rules of the game for money, payments, and financial infrastructure.
Jon Ander de las FuentesThe President of BASQUEFIK highlighted the magnitude of the change: “Digital money is one of the most profound and strategic transformations which addresses the international financial system, with direct implications for geopolitics, regulation, and monetary sovereignty.” He emphasized that the true goal is “to create a truly universal and secure payments ecosystem, building inclusive systems that leave no one behind.”
From Fiat Currency to the Digital Euro: A New Order
The day began with the vision of Mikel LarreinaProfessor of Finance at Deusto Business School, who in his presentation 'From cash to digital money: the new monetary order' He traced the historical evolution of money, from traditional money 'fiat' until cryptocurrencies, such as 'Bitcoin' and the initiatives of central bank digital currency like the Digital Euro.
The first panel discussion addressed the Geopolitics, Regulation and Monetary Sovereignty, with the participation of Enrique Nieto (Uría Menéndez), José Francisco Canalejas (Gómez-Acebo & Pombo) and Jose Garcia (Bank of Spain). Experts analyzed the influence of the CBDC (Central Bank Digital Currency) and the stablecoins private entities in the international monetary architecture, in addition to debating the potential fragmentation of the monetary order and the role of 'Bitcoin' as a possible store of value in the 21st century.
Money, payments, and financial infrastructure are evolving in real time, driven by technological innovation and a new regulatory framework that is redefining the rules of the game.
The Impact on Business and Corporate Financing
A second panel focused on 'Digital money and business models', essential for the corporate treasury management and of operations. Xele Olaizola (Kutxabank), Sandra Jódar (Caixabank) and Francisco Maroto (BBVA) discussed the operational efficiency that new payment systems, such as the stablecoins, e money tokensCBDCs and the tokenized deposits, And the monetization opportunities for issuers and infrastructure. Concrete examples were shared of companies that are already integrating these tools into their operations.
In addition, the risks and opportunities associated with linking financial transactions to digital identitieswith a debate on Technology, Identity and Digital MoneyThe need to guarantee the control, privacy and security in an environment with multiple digital currency issuers, exploring whether the technology promotes more financial inclusion or, on the contrary, it accentuates the inequality.
Closing the strategic perspective, Juan Jiménez Zaballos (Banco Santander) projected a reflection on 'Heading towards 2030: What kind of money will be circulating in the future?'He highlighted the challenges and opportunities that this new monetary model presents for financial institutions, the companies that operate internationally and investors, focusing on the convergence between technology and regulation.
Finally, Iker OjembarrenaThe CEO of BASQUEFIK closed the event by reaffirming the cluster's commitment: “The future of money is not defined solely by its digital form, but by the ability to build together a a more connected, transparent and collaborative financial system".
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