Tag: Drex

Brazil's central bank digital currency (CBDC), Drex, is encountering significant hurdles regarding privacy as it approaches its anticipated launch in late 2024. Recent reports indicate waning support from external partners, exacerbating concerns about the platform's ability to maintain user privacy. Drex aims to streamline financial transactions and enhance financial inclusion ...

Brazil is integrating DeFi principles into the creation of its own "synthetic" central bank digital currency (CBDC), Drex, formerly known as the Brazilian digital real. According to Roberto Campos Neto, president of Banco Central do Brasil (BCB), the South American country aims to design a CBDC that tackles the "trilemma" ...