Between those selected are the largest local banks, Visa and Microsoft.
The Monetaryย Authority of Brazil selected 14 selected institutions toย joinย the pilot of the digital real, the countryโs monetaryย authority digitalย currency (CBDC).
Published Wednesday, the list includes major local private banks such as Bradesco, Nubank, and Itaรบ Unibanco, likewise as the largest public Brazilian bank, Banco do Brasil, and the local stock exchange B3. Multinational corporations such as Visa and Microsoft were likewise chosen to participate.
The monetaryย authority will begin incorporating participants into the Real Digital Pilot platform in mid-June 2023.
In total, the bank received 36 interest proposals from over 100 institutions from a number of different financial sectors, including payment institutions, cooperatives, public banks, cryptocurrency corporations, financial market infrastructure operators, and payment settlement institutes.
Stephen Alpher.
