Cryptocurrency industry Although in a downward trend, the volume and speed of important partners of crypto money projects started to increase.
New News for XLM
Mercado Bitcoin, the largest cryptocurrency exchange in Latin America, also shared important news on this subject.
stock market, brazil central bank-backed digital currency (CBDC) announced which crypto money project it has partnered with.
In the statement that stellar Development Foundation (SDF) was emphasized.
Stellar Foundation According to the statement also shared by Mercado Bitcoin, it will work on 1 of 9 projects submitted by Brazilian authorities.
This project is defined as designing a product for the CBDC that meets the goals desired by the Brazilian government. The project is directly supported by the Central Bank of Brazil. Each of the 9 projects will focus on different areas and aspects for the CBDC.
Mercado Bitcoin CEO Reinaldo Rabelo In a statement on the subject, he stated that the company thinks that Stellar will produce more robust solutions using blockchain technology.
The fact that Brazil’s central bank-backed digital currency will be on the Stellar network is very positive for XLM in the long run.
Stellar, before Central Bank of Ukraine was called to the table for a similar agreement by
Brazil’s central bank, on the other hand, wants to keep things a little faster, and it is said that the digital currency in question may be on the market in the second half of 2022.