• About Us
  • Careers
  • Contact
No Result
View All Result
Thursday, September 18, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Market Analysis
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Market Analysis
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result

Brazil’s Central Bank Increases Participants in CBDC Pilot Program, Enlists Major Companies and Financial Institutions

26 May 2023
in Latest News, News
Reading Time: 3 mins read
108 1
Home News Latest News

Banco Central do Brasil is set to expand its Digital Real Pilot Program in mid-June 2023 to include additional participants.

In an update on May 24, 2023, the Brazillian central bank revealed the final list of participants selected for the CBDC pilot program. A total of 14 participants were chosen from a pool of 36 bids submitted by individual companies and consortia, comprising a remarkable total of over 100 institutions.

The Brazilian Central Bank Digital Currency (CBDC) pilot project saw strong interest from the industry. Among the selected participants is a consortium that includes Microsoft, a prominent technology giant based in the United States; Banco Inter, a Brazilian bank; and 7COMm, a digital technology company. Other participants include Visa, Santander, Itaú Unibanco, BTG Bank, Bradesco, and other Brazilian banking institutions.

The Brazilian Central Bank Digital Currency (CBDC) pilot project was officially announced in April 2022. The project was meant to develop and test a digital version of the Brazillian Real. The digital Real would be tied to the national fiat payment system and operate similarly to Bitcoin, with a predetermined fixed supply and a limited amount available for minting.

The Brazillian Central Bank initiated the pilot phase of the Real Digital program to evaluate the privacy and programmability functionalities of distributed ledger technology (DLT). To achieve this, they will be implementing a targeted use case involving a delivery versus payment (DvP) protocol for federal public security.

The popularity of cryptocurrencies in Brazil has been on the rise, as evidenced by data from Receita Federal, the country’s tax authority. The trading volume of stablecoins among Brazilians surged to $11.4 billion between January and November 2021, marking a threefold increase compared to the previous year.

In November 2022, Brazilian lawmakers approved legislation recognizing Bitcoin as a digital currency suitable for payments and investment within the country. However, the full implementation of the bill requires presidential approval. Additionally, while the legislation permits Bitcoin’s use for transactions and investment, it does not grant it legal tender status in the country. 

With the expansion of the Digital Real Pilot Program and the increasing acceptance of cryptocurrencies in Brazil, the country is taking significant steps towards exploring the potential of CBDCs and embracing digital innovation in the financial sector.

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

“Take control of your crypto portfolio with Markets PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Tags: BrazilCBDC
Share64Tweet40Share11
Previous Post

Gemini Selects Dublin for European Expansion, Cites Favorable Regulatory Environment

Next Post

Zhengzhou Introduces Legislative Proposals and $1.42 Billion Fund to Support Metaverse Businesses and Foster Industry Growth

Favour Udeo

Favour Udeo

Favour is a writer, who is interested in blockchain, DeFi, and Web3 in general. She finds machine learning and emerging technologies interesting.

Related Posts

source: theblock.co
Blockchain

Bio Protocol Secures $6.9M to Accelerate AI-Driven Decentralized Science

18 September 2025
source: danielscrivner.com
Bitcoin

Bitcoin’s Lack of Yield Makes It Safer Than Ethereum — Luke Gromen

18 September 2025
source: techcrunch.com
Crypto

US AI and Crypto Czar David Sacks Denies Breaching Federal Service Limit Amid Scrutiny

18 September 2025
source: webopedia.com
Stablecoins

ASIC Grants Groundbreaking Exemption for Stablecoin Intermediaries in Australia

18 September 2025

Editors Picks

Mining vs. Staking: Which Crypto Validation Method Will Shape the Future?

Mining vs. Staking: Which Crypto Validation Method Will Shape the Future?

byOlajumoke Oyaleke
15 July 2025
0

Where Are the Ethereum-Killers Now?

Where Are the Ethereum-Killers Now?

byOlayinka Sodiqand1 others
6 January 2025
0

source: investorplace.com

How to Find the Newest Cryptocurrencies Before They’re Listed

byOlayinka Sodiq
30 December 2024
0

Exploring the Role of AI in Enhancing DeFi Security

Exploring the Role of AI in Enhancing DeFi Security

byOlayinka Sodiq
1 October 2024
0

The Ultimate Guide to How NFT Royalties Work

The Ultimate Guide to How NFT Royalties Work

byAdedamola Ojedokun
17 April 2024
0

Read More

Chain of Thoughts

Zero-Knowledge Everything: Trust, Privacy, and Verification in the Digital Age

Zero-Knowledge Everything: Trust, Privacy, and Verification in the Digital Age

byOlu Omoyele
30 August 2025
0

...

What Happens When AI Gets a Wallet?

What Happens When AI Gets a Wallet?

byOlu Omoyele
31 July 2025
0

...

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

byOlu Omoyele
30 June 2025
0

...

Are Stablecoins Bank Deposits?

Are Stablecoins Bank Deposits?

byOlu Omoyele
31 May 2025
0

...

Markets Update

Crypto, Privacy, and Judicial Authority in the United States

22 hours ago

Balancing Promise And Uncertainty As Crypto Enters UK Retirement Portfolios

1 day ago

India’s OECD Crypto Reporting Rules: Possible Impact on The Market

1 day ago

What’s Driving the Surge in Blocked Crypto Payments in the UK?

1 day ago

Is Crypto One Growth Cycle Away from 5 Billion Users?

1 day ago

From Rice Fields to Blockchain: Is Vietnam Becoming Asia’s New Crypto Hub?

5 days ago
Read More

Events

Korea Blockchain Week 2025
Korea Blockchain Week 2025
22 Sep 25
Seoul
Blockchain Life 2025
Blockchain Life 2025
28 Oct 25

Spotlight

All about Ethereum
All about Algorand
All about Bitcoin
All about Gora

Press Releases

Origin Summit Announces Wave 3: Animation Powerhouse Maggie Kang to Join Programming Lineup

bychainwire
18 September 2025
0

iZUMi Finance and Nasdaq-Listed Company CIMG Co-Launch $20M Upstarts Fund

bychainwire
18 September 2025
0

BetFury is at SBC Summit Lisbon 2025: Affiliate Growth in Focus

bychainwire
17 September 2025
0

Bybit Q3 2025 Asset Allocation Report: Stablecoin Holdings Drop as Investors Pivot to SOL, XRP, and Altcoins

bychainwire
17 September 2025
0

Flipster Partners with WLFI to Advance Global Stablecoin Adoption Through USD1 Integration

bychainwire
17 September 2025
0

Read More

ADVERTISING

ABOUT

TEAM

CAREERS

CONTACT

TERMS & CONDITIONS

PRIVACY POLICY

© Copyright 2025 DeFi Planet

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

Add New Playlist

No Result
View All Result
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Market Analysis
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

© Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00