Brazil sets up central bank digital currency group

The Banco Central do Brasil has formed a study group to evaluate the benefits and challenges of issuing a central bank digital currency (CBDC) in the country.

Banco do Brasil logo 400w

The 12-member intergovernmental group will assess how a CBDC could complement Brazil’s existing payments ecosystem and evaluate its potential economic and social impact.

It will also identify security and compliance issues and propose a model for the eventual issuance of a digital currency in Brazil.

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