Brazil confirms that it will launch a pilot test of the digital real this year
With this advance, Brazil will become the first country in South America to launch a pilot of a sovereign digital currency.
Roberto Campos Neto, President of the Central Bank of Brazil, confirmed in the last hours that the pilot test of the digital real will be launched this year. As explained by the official during an event, the new digital currency of the central bank ( CBDC ) will be available in the second half and will have a fixed supply.
Campos Neto also assured that the new asset of the Brazilian giant will be linked to the reserve transfer system, a fiduciary payment system. With this advance, Brazil will become the first country in South America to launch a pilot of a digital currency sovereign.
This is a way to create currency digitization without creating a break in bank balance sheets. This project should have some kind of pilot in the second half of the year ”, said the BCB president.
On the other hand, Campos Neto spoke briefly about how he sees the Brazilian crypto ecosystem. As he slipped, cryptocurrencies are seen as forms of investment rather than as a means of payment, something that could change only with a greater increase in local and global adoption.
In that sense, the country commanded by Jair Bolsonaro works on a bill to regulate the crypto market, which refers to a clear definition of what status digital assets have and defines control jurisdictions in government agencies.
Source article: https://www.eleconomista.com.mx/
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