Disclosure this Wednesday (4) shows that the Central Bank of Brazil is advancing in the creation of the CBDC of the digital Real.
DREX, new name for Real Digital. Source: Central Bank of Brazil/Reproduction.
The Central Bank of Brazil (BC) announced on September 4, 2024 the list of selected projects, prepared in conjunction with the Securities and Exchange Commission (CVM), containing 13 themes for development in the second testing phase of the Drex Pilot platform, out of a total of 42 use case proposals presented.
In the second testing phase, the infrastructure created for the Pilot will begin testing the implementation of financial services, made available through smart contracts created and managed by third parties participating in the platform.
The development of the selected themes should begin in the coming weeks, in a debate environment devoted to each of the themes where regulators and participants will be able to discuss the best implementation strategy, the governance of the new services and evaluate the interaction of the available privacy solutions with the implementation of the proposed theme. With information from the BC released this Wednesday (4).
Check out the 13 themes selected by the BC for the second phase of Drex
Considering the overlapping scope in the proposals presented, the Drex Pilot Executive Management Committee (CEG) decided to aggregate the use cases into 13 themes, listed below, with 11 of these themes falling under the jurisdiction of the BCB and the other 2 under the jurisdiction of the CVM.
Themes and participating consortia:
Receivable assignment: ABC and Inter
Credit collateralized in CDB: BB, Bradesco and Itaú
Credit collateralized in public securities: ABBC, ABC and MB
Financing of international trade operations (Trade Finance): Inter
Optimizing the foreign exchange market: XP-Visa and NuBank
Liquidity pool for trading government bonds: ABC, Inter and MB
Transactions with Bank Credit Notes: ABBC
Transactions with agribusiness assets (CVM): TecBan, MB and XP-Visa
Transactions with assets on public networks: MB
Car transactions: B3, BV and Santander
Credit transactions and decarbonization – CBIO: Santander
Debenture transactions (CVM): B3, BTG and Santander
Real estate transactions: BB, Caixa and SFCoop.
Thus, throughout the third quarter of 2024, the BC will open the call for new application proposals from entities interested in participating in the Drex Pilot. Finally, those selected must test the implementation of smart contracts by the end of the first half of 2025.
It is worth noting that in recent days the president of the Central Bank, Roberto Campos Neto, announced news on the digital development agenda. According to him, the arrival of two new blocks should arrive in the future, including artificial intelligence and data monetization alongside Pix, Drex, Open Finance and Internationalization of the currency, work that is already underway.
