Brazil’s CBDC to improve access to ‘intelligent financial services’

- Central Banking Newsdesk
- 14 Aug 2023

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The Central Bank of Brazil (BCB) revealed its new digital currency is called Drex, as it moves closer to a live launch, set for late 2024.

In a statement on August 10, the BCB said the central bank digital currency (CBDC) “will provide a secure and regulated environment for developing new businesses” as Brazil’s economy digitises.

The retail version will be provided by a regulated financial intermediary. On its website, the central bank says Drex will use a distributed ledger technology (DLT

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