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

Central Bank of Brazil

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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