Brazilian Central Bankthe country’s central bank digital currency (CBDC) to help develop 9 partners determined. Partners include crypto exchange Mercado Bitcoin, Santander Brasil, Itaú Unibanco, decentralized finance (DeFi) platform Aave, Brazilian bank federation Febraban, German payments company Gieseck+Devrient and Brazilian banking service Tecban and its partner Capitual.
In a new statement by the central bank, the initiative in question Brazil, Germany, USA, Israel, Mexico, Portugal, UK and Sweden‘skin 47 project proposals reportedly received.
The Central Bank announced in November that it plans to launch a CBDC pilot program in 2022 and submit a final version of the project in 2024.
The central bank stated that the implementation phase for 9 selected out of 47 projects. March 28will start and July 27He said it would take until
CBDC Pilot Launches This Year
Like other central bank digital currencies, Brazil’s CBDC will be backed by the country’s official currency, the Brazilian real (BRL).
Beyond CBDC efforts, Brazil has become a pioneer of cryptocurrency in other areas. The city of Rio de Janeiro has announced that it plans to invest 1% of its treasury in Bitcoin. The Brazilian Senate, on the other hand, introduced a bill that could officially recognize crypto markets.
Experts state that Brazil’s digital currency is eagerly awaited and can set an example for the countries of the region and the whole world.