The Octava Real is the Spanish version of this form. It is also stanzaic and written in any number of octaves. Instead of iambic pentameter, this form is hendecasyllabic, or written in lines of 11 syllables. It carries the same rhyme scheme (abababcc). Like it's counterpart, it is also a narrative form, generally used for telling a story.
So, there's your challenge. I hope you'll join me this week in writing an Octava Real. Please share a link to your poem or the poem itself in the comments.