According to Techub News, Cointelegraph reported that the Central Bank of Brazil is developing a synthetic central bank digital currency (CBDC) Drex, which aims to integrate decentralization, privacy and programmability, while being compatible with DeFi functions. Through Drex, Brazil aims to introduce the concept of tokenization to banks and bring the DeFi ecosystem under regulatory jurisdiction. Currently, the second phase of the CBDC pilot is underway.