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Brazil’s Central Bank is Discussing CBDC Global Standards with Other Central Banks
Summary: Brazil’s central bank, the Banco Central do Brasil (BCB), is pushing for more time to roll out its central bank digital currency (CBDC). Earlier in May, BCB released a document covering the general guidelines and characteristics of Brazil’s future CBDC. Roberto Campos Neto, BCB’s chief central banker, also stated earlier last year that the country ...
Brazil’s central bank, the Banco Central do Brasil (BCB), is pushing for more time to roll out its central bank digital currency (CBDC).
Earlier in May, BCB released a document covering the general guidelines and characteristics of Brazil’s future CBDC. Roberto Campos Neto, BCB’s chief central banker, also stated earlier last year that the country would likely be prepared and ready for a digital Real by 2022. But the central bank is now delaying the project, citing uncertainty within its financial infrastructure and the international landscape.
The BCB recently launched a new payment system called PIX, which was created to address the growing digitalization of Brazil’s economy and its lack of readily available payment methods. The central bank is also expected to launch its open banking model in the near future to bolster Brazil’s financial systems.
By Amy Liu
Tags: Brazil,CBDC,Central Bank
Link: Brazil’s Central Bank is Discussing CBDC Global Standards with Other Central Banks [Copy]
