National and international companies will take part in the incoming Brazilian central bank digital currency (CBDC) pilot program. Banco Central Do Brasil, Brazil’s central bank, will include participants to the digital real base in June, 2023, as stated by Cointelegraph.
According to Cointelegraph, on May 24, 2023, the central bank unveiled its ultimate list of CBDC pilot participants. It’s believed that participants were selected through 36 bids done by single companies and consortia, which resulted in “totaling more than 100 institutions.” Reportedly, the final number of companies has been 14.
Based on Cointelegraph’s information, participants in the Brazilian CBDC are Visa, Santander, and Brazilian banking institutions such as Itaú Unibanco, BTG Pactual and Banco Bradesco. From what it’s understood, the digital real pilot’s current stage will consist of the central bank’s testing of privacy and programmability features of its platform through a certain use case.
Moreover, Cointelegraph noted that the Brazilian CBDC pilot was officially declared in 2022.
(With insights from Cointelegraph)
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