the central bank of brazil will conduct a pilot test this year of its cbdc

In a recent statement, the brazilian central bank provided details on its progress on its cbdc project, the digital real. when asked about a possible test involving the currency’s use in the final half of the year, its president, roberto campos neto, hinted at one. countries in south america have cbdc programs, and brazil could join them.

since last year, the central bank of brazil has been moving forward with its digital real project when it revised the rules that a brazilian cbdc would have to adhere to. in march, the institution whittled down its list of 47 applicants to just nine. according to the rapporteurs, these new hybrid proposals are expected to be approved within the next few months.

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