Brazil’s central bank has chosen 13 financial institutions, Google, Visa, Santander and Nubank are included, to test the implementation of its central bank digital currency (CBDC) pilot project.
Visa will work with Nubank and brokerage XP on using a CBDC for „optimisation of the foreign exchange market”. Google will work with financial services firms on credit collateralised in public securities; while Santander is experimenting on transactions for cars.
According to a Sept. 4 Banco Central do Brazil announcement, the bank accepted 13 out of 42 applications to participate in the second phase of its CBDC pilot project.
“In the second phase of testing, the infrastructure created for the pilot will test the implementation of financial services, available through smart contracts created and managed by third parties participating in the platform,” the central bank said in a statement.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
