Visa and Microsoft join CBDC project in Brazil


The Central Bank of Brazil has released the final list of participants in the CBDC pilot project, which includes payments giant Visa and Microsoft.

The regulator chose from 36 applications submitted by various organizations and consortiums. According to the statement of the Central Bank, “more than 100 companies” wanted to participate in the project.

A total of 14 applicants were selected, including Brazilian banks Santander, Itau Unibanco, BTG Bank, Bradesco, Spanish bank Inter and IT company 7COMm.

At the current stage of development of the digital realm, the Central Bank will test the privacy and programmability features using the delivery versus payment (DvP) protocol.

The Brazilian regulator has scheduled the official launch of the CBDC for 2024. The head of the regulator, Roberto Campos Neto, said the design of the technology would serve as an incentive for banks to tokenize assets in order to increase efficiency.

Recall that in April, Visa developed a list of solutions for integrating the central bank’s digital currency into the country’s financial ecosystem. The company introduced a programmable platform designed for small and medium enterprises.

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