Brazil to examine 9 projects for CBDC

The Central Bank of Brazil and Fenasbac, or the National Federation of Associations of Central Bank Servers, have decided to examine 9 projects from different companies on a Brazilian central bank digital currency (CBDC).

The Central Bank of Brazil and Fenasbac, or the National Federation of Associations of Central Bank Servers, have decided to examine 9 projects from different companies on a Brazilian central bank digital currency (CBDC). The digital real projects are from companies and organizations like Aave, Banco Santander, and Mercado Bitcoin. Ideal ones from among these will be selected to be developed. Called the LIFT challenge, the proposed projects will also examine how a CBDC can be inserted into several applications. The projects were initially identified by LIFT, or Laboratory of Financial and Technological Innovations. There were entries from global organizations, including those from Germany and the United States. The selected projects are different from one another and seek to include the digital real into different applications that include delivery versus payment solutions, payment versus payment solutions, internet of things (IoT), defi applications and dual offline payment proposals.