Crypto Currency News

Brazil confirms the launch of the digital real for this year

This was confirmed by the president of the Central Bank of Brazil, Roberto Campos Neto.

Roberto Campos Neto, president of the Central Bank of Brazil, confirmed in the last few hours that the pilot test of the digital real will be launched this year. As the official explained during an event, the new central bank digital currency (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 (STR), a fiduciary payment system. With this breakthrough, Brazil will become the first country in South America to launch a pilot of a sovereign digital currency.

“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 president of the BCB.

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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 a means of payment, something that could change only with a further increase in local and global adoption. In this sense, the country led by Jair Bolsonaro is working on a bill to regulate the crypto market, which refers to a clear definition of the status of digital assets and defines control jurisdictions in government agencies.

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