The head of the Central Bank of Brazil stated that the asset will be launched as a pilot before the end of the year.
According to the central bank governor, Brazil will start piloting CBDC in the second half of 2022.
Brazilian Central Bank President Roberto Campos Neto talked about Brazil’s CBDC plans at the event organized by TradersClub (TC) and Arko Advice.
Neto emphasized that the bank has been studying the CBDC process for a long time, but that the later stages of the project will increase the bank’s know-how.
Neto stated that the CBDC project will digitize the Brazilian real “without breaking the balance sheets of the banks”. He added that the digital currency will be guaranteed by the Brazilian real and banks can issue stablecoins on deposits.
It is not yet clear whether the public will be involved in the CBDC pilot.
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