Brazil Selected 14 Participants for CBDC Pilot Program: Visa and Microsoft Among them!

The Central Bank of Brazil (BCB) has announced 14 institutions selected to participate in the central bank digital currency (CBDC) pilot test.

BCB announced on its official website on May 24 that the CBDC platform will participate in the pilot test of Real Digital. out of 100 more individual institution And from legal entity in total consisting from 36 consortia incoming test applications stated that it was finalized. Banks, including Visa and Microsoft 14 related reported that the party decided to participate in the test.

BCB, participants payment institutions, cooperatives, public banks, crypto asset service developers, financial infrastructure operators And payment regulation institutes elected from among its representatives.

Technology giant among the participants Microsoft, payment services giant Visa, Brazil’s largest digital bank alongside Brazilian-based banks NuBank exists. In addition, large private banks bradesco And Itaú Unibanco, Santander from local banks BV, BTG, ABC, Brazilian Banks Association is also included.

Cryptocurrency breakthroughs in the program, which is scheduled to start in mid-June, and Bitcoin (BTC) known for its connection NuBank’s and local stock market of B3 The inclusion attracted attention.

While it is seen that some parties make individual applications, all 8 sides in consortium from 37 participants reported to occur.

Under the program, the platform security And programmability Its functions will consist of testing on the scenario of payment protocols against the delivery of federal public securities.

BCB last year March CBDC in month research and development for with 9 institutions announced the agreement.

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