BRICS: Brazil To Incorporate Government Bonds in CBDC Digital Currency
Brazil is gearing up for the second phase of testing its Central Bank Digital Currency (CBDC) this week. According to the Central Bank of Brazil, the CBDC will feature government bonds among other cool functionalities, making it a pretty versatile tool. The bank plans to bring in 13 new features such as assigning credits with collateralization and setting up liquidity pools for government bonds trading. Other nifty additions include automating car transactions and integrating real estate platforms. A detailed report on these changes can be found auf watcher.guru.
This pilot project will see a collaboration involving state-run banks, B3, Banco do Brazil, Banco Inter, Nubank, and the Brazilian Association of Banks. It’s kinda impressive how BRICS member Brazil is advancing in launching its CBDC digital currency. Bruno Grossi from Banco Inter emphasized, “Each of the use cases will be tested by everyone. Collaboration will always be welcome.” The project aims to wrap up by 2025 and the Central Bank is focusing on protecting bank account holders’ privacy. Overall, this effort could mark significant progress in the digital currency frontier for Brazil and even the broader BRICS community. More details about the development are available in the report by watcher.guru.
