Brazil Plans to Release its CBDC in 2024
Reading Time: < 1 minute
Roberto Campos Neto, head of the Central Bank of Brazil, has said that the bank will issue a CBDC in 2024 after a closed pilot program with financial institutions.
According to him, the design of the digital real will serve as an incentive for banks to tokenize assets in order to increase efficiency. He claims the use of the digital version of the national currency will help reduce costs in settlements, auditing and financing.
He has said:
“If a CBDC is a tokenized deposit, it inherits all the regulation that applies to it.”
He believes that with such an interpretation, the new means of payment will not violate monetary policy and will not harm banks.
Follow and like us on
