Bank AI

In a significant digital milestone, Brazil's central bank chose to reveal the moniker "DREX" for its impending CBDC during a live broadcast on the official YouTube channel.   
The broadcast, hosted by Fábio Araújo, the coordinator of the digital real initiative, and Aristides Cavalcante, deputy head of the Central Bank's technology and information department, provided a glimpse into the innovative strides being made in the country's financial sector.   
DREX is poised to make its debut with a range of capabilities designed to transform financial transactions. Among its initial functionalities, DREX will facilitate seamless buying and selling of public treasury bonds, marked by swift execution of transactions.   
To support these operations, DREX will harness the robust Web3 infrastructure, enabling efficient token creation, registration, and burning processes.   
However, DREX's true potential goes far beyond its initial offerings. This digital currency aims to revolutionize Brazil's financial services by leveraging cutting-edge technology.   
The implementation of distributed ledger technology will streamline wholesale interbank transactions, fostering efficiency and transparency.   
Moreover, DREX is set to redefine retail access through the innovative approach of tokenized bank deposits, opening new avenues for individuals to engage with their finances.  
The post <a rel="noopener noreferrer nofollow" href="https://optimisus.com/market/market-news/brazils-central-bank-introduces-its-own-cbdc/">Brazil’s Central Bank Introduces Its Own CBDC</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://optimisus.com">Optimisus</a>.

Brazil’s Central Bank Introduces Its Own CBDC

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