Brazil's central bank selects 14 participants for CBDC pilot, including Visa, Microsoft and large local banks

Brazil’s central bank, Banco Central do Brasil, moved its digital currency project into a broader testing phase by selecting 14 participants for the Drex CBDC pilot, including global firms such as Visa and Microsoft alongside major Brazilian banks and fintechs. The pilot is part of Brazil’s effort to design a digital version of the real that uses distributed ledger technology and smart contracts, with the central bank saying it wants to improve efficiency in financial markets and test use cases ranging from payments and trade finance to real-estate and collateralized credit.

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More coverage

• Brazil central bank confirms projects for next digital currency tests (globalgovernmentfinance.com)
• [PDF] the potential of Drex, the Brazilian CBDC Paula da Cunha Duarte ... (boeckler.de)
• Brazilian central bank outlines CBDC project (centralbanking.com)
• Central Bank Digital Currency Tracker - Atlantic Council (atlanticcouncil.org)
• Drex – Digital Brazilian Real - Banco Central (bcb.gov.br)

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