Brazil confirms that it will launch a pilot test of the digital real this year

Roberto Campos Neto, president of the Central Bank of Brazil, confirmed in the last hours that the pilot test of the real digital will be launched this year. As explained by the official 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, 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.

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 as a means of payment, something that could change only with a further increase in local and global adoption.

In this sense, the country commanded 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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