Brazil’s DREX: Unveiling the Central Bank’s Digital Real CBDC

Brazil's DREX: Unveiling the Central Bank's Digital Real CBDC

The Central Bank of Brazil has unveiled the official name for its central bank digital currency (CBDC) in a recent announcement. The CBDC will be known as DREX, which stands for Digital Real Electronic Transaction, as revealed during a live broadcast on the bank’s YouTube channel. Fábio Araújo, the coordinator of the digital real, and […]

Latin America Leads CBDC Adoption: A Roadmap for Digital Finance Revolution

Latin America Leads CBDC Adoption: A Roadmap for Digital Finance Revolution

Latin American countries have been making steady progress towards CBDCs. According to a report by the International Monetary Fund (IMF), the majority of central banks in the region are currently evaluating CBDCs. While most of the research and development is still in the early stages, a few nations have made significant strides towards the launch […]

Brazilian Central Bank Adds Crypto Exchange Mercado Bitcoin in CBDC Pilot Including Mastercard

Brazilian Central Bank Adds Crypto Exchange Mercado Bitcoin in CBDC Pilot Including Mastercard

Source: Coindesk Brazil’s central bank authorized on Thursday the largest local crypto exchange, Mercado Bitcoin, to participate in the pilot of the digital real, the South American country’s central bank digital currency (CBDC). The consortium led by Mercado Bitcoin counts Mastercard, broker Genial, registrar Cerc and financial software fintech Sinqia as partners, local newspaper Valor reported. […]

The Future of Central Bank Digital Currency

The Future of Central Bank Digital Currency

Source: Ripple As 2023 unfolds, the future of digital currencies backed by central banks is accelerating.  According to a new report from Juniper Research, the global value of central bank digital currencies (CBDCs) will grow dramatically from $100 million today to $213 billion by 2030. Why is this high growth in CBDC adoption and use […]

Visa to Develop Brazilian Blockchain-powered CBDC Project

Visa to Develop Brazilian Blockchain-powered CBDC Project

Source: Cryptonews The payments giant Visa has unveiled a new blockchain and central bank digital currency (CBDC) project in Brazil. Per the Brazilian media outlet Livecoins, the firm was selected by the Brazilian central bank to “explore” blockchain technology-powered “usage cases” for the prototype digital real. The bank is hopeful of debuting its coin later this year. It has also claimed that […]

Snapshot: Which countries have made the most progress on CBDCs so far in 2023

Snapshot: Which countries have made the most progress on CBDCs so far in 2023

Source: Atlantic Council 2023 is already shaping up to be a major year in central bank digital currency (CBDC) exploration. As of March 1, sixty-five countries are in the advanced stage of development, and over twenty central banks have launched their pilots, including Brazil, Japan, and Russia. To dive deeper into these countries, follow our CBDC […]

Santander Proposes Project to Tokenize and Trade Properties With the Brazilian CBDC

Source: Bitcoin.com Santander, one of the largest banking institutions with a presence all over the world, has presented a proposal to enhance the use case of the proposed central bank digital currency (CDBC), the digital real, in Brazil. Santander is using technology coming from another company, Parfin, to tokenize the property rights of the assets […]

Brazil CBDC trials: farm lending explored by Digital Asset, Oliver Wyman, VERT

Original Source: Ledger Insights In March, Banco Central do Brasil unveiled nine participants in its Real Digital Lift Challenge, a central bank digital currency (CBDC) trial. One of the projects focuses on directed farm lending. Initially, the lending will be in tokenized commercial bank money, which could later switch to have the tokens backed by CBDC. […]

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