Renato Gomes on Pix, Drex and digital asset regulation
Brazil’s deputy governor speaks with Christopher Jeffery about pros and pitfalls of open finance, financial inclusion and crime on Pix, and the need to sideline DLT for Drex phase 3
What is the Central Bank of Brazil’s (BCB’s) philosophy when it comes to the organisation of the financial system in Brazil?
The financial system in Brazil traditionally was established around large banking conglomerates, mid-sized banks primarily serving corporates and relatively small institutions that catered to niche markets, such as brokerage firms or foreign exchange specialists. It was a very uneven market.
Two major shifts – supported by the central bank – changed that about 15 years ago
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