CandleFocus Brazillian Central Bank Invites New Participants to CBDC Pilot Program
2024-10-14
Author: Content Editor
The Brazilian Central Bank is expanding its CBDC pilot, drex, to include more participants and test more advanced use cases and privacy solutions. Thirteen new use cases have been confirmed, covering areas such as carbon credits and agricultural bonds. The pilot's first phase experienced delays due to privacy proposals, and the central bank now plans to introduce and test privacy solutions in this new phase. However, the launch of drex to the general population may be further delayed, and a rollout in 2025, as previously estimated, is unlikely. The President of the Brazilian SEC-equivalent emphasized the importance of bringing crypto to the financial system in a regulatory-compliant manner.
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