14 Participants Selected for CBDC Pilot by Brazil’s Central Bank

The Central Bank of Brazil has chosen 14 institutions to participate in the pilot program for the country’s central bank digital currency (CBDC), the digital real.

The list, which was published on Wednesday, includes major private banks in Brazil such as Bradesco, Nubank, and Itaú Unibanco, as well as the country’s largest public bank, Banco do Brasil, and the local stock exchange B3. Multinational companies like Visa and Microsoft have also been selected to participate.

The central bank will begin adding participants to the Real Digital Pilot platform in mid-June 2023.

Overall, the bank received 36 proposals of interest from over 100 institutions from various financial sectors, including payment institutions, cooperatives, public banks, crypto companies, financial market infrastructure operators, and payment settlement institutes.

Edited by Stephen Alpher.