| Brazil's central bank, Banco Central do Brasil, has published the final list of its central bank digital currency (CBDC), or the digital real, pilot project participants. The list, consisting of 14 participants, includes giant firms like payments services giant Visa and tech giant Microsoft. - The bank received 36 bids from more than 100 institutions seeking to join the country's CBDC pilot program.
- Santander,
Brazilian banking institutions Itaú Unibanco, BTG Pactual, Nubank, and
Banco Bradesco, the largest public Brazilian bank Banco do Brasil, and
the local stock exchange B3 are all included in the 14-participant
list.
- Microsoft
made the list with the Brazil-based bank Banco Inter and the digital
technology company 7COMm, as some participants consist of groups of
companies.
- The country's central bank will start adding participants to the Digital Real Pilot platform in mid-June this year.
- The
first phase will test the privacy and programmability features of the
platform through a single use case with federal public securities.
- Brazil's CBDC pilot program was first officially announced in 2022.
- The CBDC will be pegged to the country's national fiat currency, the Brazilian real.
- The central bank will launch its CBDC with a fixed supply and mint more later on.
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