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Brazil’s Central Bank to Launch CBDC Pilot in 2022: Report

The final version of the central bank digital currency is expected to come in 2024.

작성자 Andrés Engler
업데이트됨 2023년 5월 11일 오후 7:03 게시됨 2021년 11월 22일 오후 10:59 AI 번역
The Central Bank of Brazil in Brasilia (Getty Images)

The Central Bank of Brazil (BCB) plans to start a pilot program of a digital currency next year, BCB President Roberto Campos Neto said on Friday, according to local media outlet Estadao.

  • In September, the BCB told the Brazilian Senate that it planned to launch the final version of a digital real in 2024, according to estimates made by Fabio Araujo, an economic adviser to the BCB, who added that the monetary authority would conduct initial tests in 2022.
  • Brazil’s central bank has also been discussing a bill to regulate digital assets as an investment vehicle, Campos Neto also said on Friday, without disclosing further details.
  • “[Crypto] is already starting to affect even the national accounts, which means it has become a relevant investment instrument,” Campos Neto noted, adding that crypto purchases are affecting Brazil’s import figures.
  • According to the BCB, Brazilians have acquired $4.27 billion in cryptocurrencies so far in 2021. In August, Campos Neto said that Brazilians held about $40 billion in cryptocurrencies.

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What to know:

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The platform will let retail traders use one margin account to trade round-the-clock perpetual markets.

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  • Cascade has introduced a 24/7 brokerage-style app for perpetual markets spanning crypto, U.S. equities and private-asset exposure.
  • The firm is pitching a single, unified margin account with direct-to-bank U.S. dollar capability for deposits and withdrawals.
  • The company has raised $15 million from investors including Polychain Capital, Variant and Coinbase Ventures.