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News

Brazil Plans To Launch Its CBDC In 2024

December 13, 2022 - Around 2 mins mins to read
By 2024, the Central Bank of Brazil intends to launch a central bank digital currency (CBDC).
Brazil Plans To Launch Its CBDC In 2024

President Roberto Campos Neto stated on Tuesday at a conference held by the Brazilian news site Poder360 that the bank will launch a trial program with select financial institutions before expanding the usage of the CBDC, a central bank-issued digital currency. Campos Neto stated:

“Greater inclusion, lower cost, intermediation, competition with reduced barriers to entry, efficiency in risk control, monetization of data, complete tokenization of financial assets and contracts. This is what we see in this digital economy in Brazil.”

Brazil Plans To Launch Its CBDC In 2024

Earlier, as Coincu reported, Mercado Bitcoin, Latin America’s largest cryptocurrency exchange, announced a partnership with the Stellar Development Foundation (SDF) to participate in Brazilian CBDC development.

“I think that this digitized, paid-in, integrated system, with inclusion, will help a lot in the development and inclusion of people in the financial world,” added the bank president.

The Bahamas, Nigeria, the Eastern Caribbean, and Jamaica are among the countries that have already issued their own CBDCs. Brazil is aiming to be able to tokenize its own currency.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

Brazil

CBDC

Central Bank of Brazil

Mercado Bitcoin

Roberto Campos Neto

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Brazil Plans To Launch Its CBDC In 2024

By 2024, the Central Bank of Brazil intends to launch a central bank digital currency (CBDC).
Brazil Plans To Launch Its CBDC In 2024

President Roberto Campos Neto stated on Tuesday at a conference held by the Brazilian news site Poder360 that the bank will launch a trial program with select financial institutions before expanding the usage of the CBDC, a central bank-issued digital currency. Campos Neto stated:

“Greater inclusion, lower cost, intermediation, competition with reduced barriers to entry, efficiency in risk control, monetization of data, complete tokenization of financial assets and contracts. This is what we see in this digital economy in Brazil.”

Brazil Plans To Launch Its CBDC In 2024

Earlier, as Coincu reported, Mercado Bitcoin, Latin America’s largest cryptocurrency exchange, announced a partnership with the Stellar Development Foundation (SDF) to participate in Brazilian CBDC development.

“I think that this digitized, paid-in, integrated system, with inclusion, will help a lot in the development and inclusion of people in the financial world,” added the bank president.

The Bahamas, Nigeria, the Eastern Caribbean, and Jamaica are among the countries that have already issued their own CBDCs. Brazil is aiming to be able to tokenize its own currency.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

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