Pilot

Bank AI

<p><strong>The Brazilian CBDC pilot is entering a new phase which includes big players like Visa and Microsoft.</strong></p>
<h2 style="text-align: center;" id="visa-microsoft-and-others-join-brazilian-cbdc-pilot">Visa, Microsoft, and Others Join Brazilian CBDC Pilot</h2>
<p>The Brazilian central bank&#8217;s upcoming central bank digital currency (CBDC) pilot project <a href="https://www.bcb.gov.br/detalhenoticia/17897/nota" target="_blank" rel="noopener">will include both national and global companies</a>. Banco Central do Brasil will begin adding participants to the digital real platform in mid-June 2023. The final list of CBDC pilot participants, published by the central bank on May 24, consists of 14 participants, including major players such as Visa, Microsoft, Santander, and several Brazilian banking institutions.</p>
<h2 style="text-align: center;" id="selected-participants-for-cbdc-pilot">Selected Participants for CBDC Pilot</h2>
<p>The Central Bank of Brazil has selected 14 institutions to take part in the digital real pilot. This includes leading local private banks like Bradesco, and Itaú Unibanco, as well as Banco do Brasil, the largest public Brazilian bank, and the local stock exchange B3. The list also includes Nubank, a neobank with several ties to the crypto world. Multinational companies like Visa and Microsoft have also been chosen.</p>
<h2 style="text-align: center;" id="a-focus-on-digital-real-testing">A Focus on Digital Real Testing</h2>
<p>During the current phase of the digital real pilot, the Central Bank will test the privacy and programmability functionalities of its platform using a single use case, a delivery versus payment (DvP) protocol for federal public security. The digital real&#8217;s value will be pegged against the national fiat payment system, similar to Bitcoin, with a fixed supply and limited minting.</p>
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">&#8220;We’re moving from globalization to a form of fragmentation or, at least, a rewiring of the global economy. We’re moving from a neoliberalism to neomercantilism, from energy and security to sustainability, and from an emphasis on efficiency to a greater emphasis on resilience (+) <a href="https://t.co/V0ouKmI5C2">pic.twitter.com/V0ouKmI5C2</a></p>
<p>— Banco Central BR (@BancoCentralBR) <a href="https://twitter.com/BancoCentralBR/status/1661446597002100763?ref_src=twsrc%5Etfw">May 24, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h2 style="text-align: center;" id="brazil-8217-s-attraction-to-crypto-companies">Brazil&#8217;s Attraction to Crypto Companies</h2>
<p>Brazil&#8217;s large population of 214 million remains attractive to global crypto companies. Companies like Binance, Mastercard, and Coinbase have been expanding their presence in the country, offering crypto services and partnerships with local payment providers. The recent granting of a license by the Central Bank to Latam Gateway, the payment provider for Binance in Brazil, further demonstrates the country&#8217;s crypto-friendly environment.</p>
<h2 style="text-align: center;" id="goals-of-the-cbdc-pilot">Goals of the CBDC Pilot</h2>
<p>The Central Bank aims to evaluate the benefits of the digital real prototype using a specially developed platform. The pilot will focus on assessing the advantages of efficiency, transparency, and security in financial operations. The use of blockchain technology and Distributed Ledger Technology will be explored for operations with tokenized assets. The initial phase will take place in a simulated environment without real-world transactions or values.</p>
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<h2 style="text-align: center;" id="conclusion">Conclusion</h2>
<p>The participation of Visa, Microsoft, and major banks in the Brazilian CBDC pilot signifies the growing interest in digital currencies and their potential benefits. The pilot project aims to test the digital real&#8217;s functionalities and assess its potential to enhance efficiency, transparency, and security in financial operations. As Brazil continues to <a href="https://walletinvestor.com/magazinadmin/revolut-launches-new-services-in-brazil/" target="_blank" rel="noopener">attract global crypto companies</a>, the country&#8217;s digital transformation in the financial sector is progressing, and the success of the CBDC pilot could pave the way for broader adoption of digital currencies in the future.</p>

Brazilian CBDC Pilot Welcomes Visa, Microsoft, and Major Banks

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