The president of the Central Bank of Brazil, Roberto Campos Neto, has clarified the status of the development of the Brazilian central bank digital currency (CBDC), the digital real. Campos Neto stated that the pilot test will start now and that banks will have to digitize more of their balances in the future. Pilot Tests for Digital Real Imminent Brazil is making strides in developing its central bank digital currency (CBDC), and the design of its architecture. Roberto Campos Neto, president of the Central Bank of Brazil, recently detailed the advances that the institution has made in building the foundation for the operation of the proposed digital real currency. In a conference organized by Brazilian bank BTG Pactual, Campos Neto stated that the pilot tests for the digital real would be starting ”now,” and that the project was receiving significant assistance from private banks. Campos Neto estimates that the full development route for the project should be ready for December 2...
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