Drex

Brazillian Central Bank Invites New Participants to CBDC Pilot Program

October 13, 2024 Bitcoin.com

bitcoin.com

The Brazilian Central Bank is opening the drex CBDC pilot to new entrants, aiming to test more advanced use cases and privacy solutions for the project’s second phase. Thirteen use cases have been confirmed, including carbon credits, agricultural bonds, and foreign trade platforms. Brazilian Central Banks Opens CBDC Pilot to New Consortiums Brazil is preparing […]

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Brazilian CBDC Drex Envisioned to Replace Current Transaction System

October 9, 2024 Bitcoin.com

bitcoin.com

Fabio Araujo, the coordinator of Drex, the Brazilian CBDC, envisions this network substituting the current national transaction system and moving all the funds currently settled by the Reserve Transfer System. However, he stated that this would take some time, as the cost of this migration would be significant. Drex Coordinator Envisions Total Substitution Of Traditional […]

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Central Bank of Brazil Reveals New Use Cases to Be Tested in Its Drex CBDC Second Pilot Phase

September 9, 2024 Bitcoin.com

bitcoin.com

The Central Bank of Brazil disclosed a new set of use cases that will be part of the second phase of the ongoing pilot of its drex CBDC. Among the 13 instances selected from the 46 presented are platforms for tokenizing real estate, liquidity pools for trading public securities, and even automating automobile transactions. Central […]

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Central Bank of Brazil Hints at a Future Integration of AI Into Its CBDC

September 5, 2024 Bitcoin.com

AI

The Central Bank of Brazil has hinted at implementing artificial intelligence (AI) and data monetization processes into Drex, its central bank digital currency (CBDC). In a recent presentation, Roberto Campos Neto, the Central Bank of Brazil’s president, stressed that the bank’s innovation agenda had four blocks: Pix, Drex, Currency Internationalization, and Open Finance. However, he […]

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Fintech Company Tecban Pilots Tokenization Platform for Brazil’s Drex CBDC

July 27, 2024 Bitcoin.com

bitcoin.com

Tecban, a fintech that provides interconnection technology for banks, has launched a tokenization and associated services platform called Nexchain. This platform facilitates the process of placing assets on the blockchain for third parties as part of the Drex pilot. The platform will be launched in tandem with the second pilot phase of the Brazilian CBDC, […]

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Parfin Creates New Blockchain to Be Used as Privacy Solution for Brazilian CBDC

June 23, 2024 Bitcoin.com

bitcoin.com

Parfin, a financial technology company, has created a new blockchain system to be used as a privacy solution for the Brazilian CBDC, drex. Rayls, the new blockchain, will offer the possibility of operating in a permissioned way and also linking itself to other public blockchains using Rayls Public Chain, a native Ethereum layer two (L2). […]

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Brazilian CBDC Pilot Postponed to 2025 Due to Inefficiency of Privacy Solutions

May 26, 2024 Bitcoin.com

bitcoin.com

The Central Bank of Brazil announced the postponement of the completion of the drex pilot, the Brazilian CBDC, due to the inefficiency of the privacy solutions presented for the project so far. The pilot will have a new phase, finalized in 2025, and will also feature the implementation of smart contracts to nurture use cases […]

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Citi: Brazil Is at the Top of Digital Money Initiatives in Latam

April 30, 2024 Bitcoin.com

Adoption

A recent report by Citi, a global financial institution, has put Brazil at the top of the nations leading the digital money initiatives in Latin America. The report states that Brazil features a combination of factors that ease the adoption of digital money such as government support and digital payment solutions. Citi: Brazil Leads Advancements […]

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Brazilian BV Bank Tests Tokenized Model for Vehicle Sales

April 9, 2024 Bitcoin.com

bitcoin.com

BV Bank, a Brazilian bank leader in vehicle loans, is running a pilot that uses tokenization to manage vehicle financing and sales operations. The first phase of the tests involves automating consumer-to-consumer vehicle sales processes, including the delivery of tokenized money in exchange for the ownership of the vehicle. Brazilian BV Bank Pilots Tokenization Model […]

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Latam Insights: Tim Draper’s Bitcoin Prophecy for El Salvador, Bukele’s Bitcoin Rush

March 17, 2024 Bitcoin.com

Banco do Brasil

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Tim Draper predicts bitcoin will make El Salvador a rich country, President Nayib Bukele vows to keep buying bitcoin, and Banco do Brazil announces offline capabilities test for the Brazilian CBDC. Tim Draper […]

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