Brazilian Central Bank Exec Says CBDC Pilot to Go Live this Year

Roberto Campos Neto, the President of the Central Bank of Brazil, has confirmed that there will be a pilot testing of the country’s Central Bank Digital Currency (CBDC), dubbed the Digital Real.

The pilot launch, which is slated to go live in the second half of the year, according to earlier speculations, will be limited to a small range of people.

Speaking at an event on Monday, Campus Neto said the value of the Digital Real will be based on the country’s Reserve Transfer System (STR). The STR is an integral part of the Brazilian payments and settlements ecosystem as it aids in the transfer of funds with real-time gross settlement (RTGS).