Central Bank of Brazil Postpones CBDC Strategy, Shuts Down Current Pilot Platform
The Central Bank of Brazil announced it would discontinue the platform used to run drex, the Brazilian CBDC initiative, during its first two phases. Fabio Araujo, the project’s coordinator, stated that drex would pivot to a platform to facilitate the use of assets as collateral.
The Central Bank of Brazil toned down its central bank digital currency (CBDC) ambitions, postponing the idea of a retail digital real rollout.
According to local reports, the bank decided to shut down the decentralized ledger platform that served as a base to run the pilot of drex, the CBDC platform that had been in development for years.
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