According to BlockBeats, on October 4, Brazil is integrating decentralized finance (DeFi) into its experiment in developing a "synthetic" central bank digital currency (CBDC) Drex, which was previously called the digital Brazilian real.

On Oct. 3, Central Bank of Brazil President Roberto Campos Neto highlighted the country’s need for a multi-dimensional CBDC that seeks to address the “trilemma” of decentralization, privacy, and programmability.