Thu, December 26

Stellar and Mercado Bitcoin Collaborate to Create Use Cases For Brazil’s CBDC

Published on May 25, 2022 at 1:40 PM Updated on May 25, 2022 at 12:49 PM

Smart contracts and decentralized finance are two of the goals of Real Digital.
The Central Bank of Brazil’s LIFT Challenge Real Digital has chosen nine proposals.

On Tuesday, an announcement was made about an agreement between the Mercado Bitcoin exchange in Brazil and the Stellar Development Foundation (SDF). The Central Bank of Brazil’s LIFT Challenge Real Digital has chosen nine proposals for development by the firm.

The LIFT Challenge Central Bank of Brazil (Bacen) and the National Federation of Associations of Central Bank Servers (Fenasbac) are working together to implement Real Digital, a collaborative environment. In addition to CPQD and ClearSale, SDF will now be part of the consortium formed by Mercado Bitcoin to explore solutions for Real Digital.

Partnered With Visa and Microsoft

Mercado Bitcoin and the Central Bank of Brazil will have Stellar Development’s network ready to help them as they investigate use cases for the Real Digital’s future, according to CEO Denelle Dixon of Stellar Development.

Reinaldo Rabelo, CEO of Mercado Bitcoin stated:

“We are in a consortium of companies that have the structure and ambition to build robust solutions for the financial market through blockchain technology. Utilizing the Stellar network will allow us to deliver a complete case for evaluation by the Central Bank.”

To develop use cases for Brazil’s Real Digital, the Central Bank of Brazil partnered with Visa and Microsoft to leverage the DeFi Aave (AAVE) protocol and ConsenSys in conjunction.

In April, the head of Brazil’s Central Bank said that the country’s sovereign digital currency pilot would be launched this year. Although this will be a trial release, it will not be accessible to the nation’s entire population. Smart contracts and decentralized finance are two of the goals of Real Digital, according to Campos Neto.

Mohamed Faisal

A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.

Societe Generale Revolutionizes the Repo Market with Bank of France Collaboration

Societe Generale has accomplished its first collateralized market transaction executed in collaboration with the Bank of France. It has employed the technological capabilities of Societe Generale’s blockchain subsidiary, SG-Forge. Moreover, this transaction is the first-ever repo operation in digital securities involving a central bank of the Eurosystem. This demonstrates the

December 13, 2024 2 mins read

Central Bank of Brazil considers ban on Stablecoin Wallet Transfers

Central Bank of Brazil Proposes Restrictions Brazil’s Central Bank (BCB) has proposed new rules that could change how people use stablecoins. The proposal suggests banning centralized crypto exchanges from letting users withdraw stablecoins, like Tether (USDT), to self-custody wallets. Users store their digital assets in these wallets instead of relying

November 30, 2024 2 mins read

Brazil’s CBDC Pilot Enters Phase 2, Leveraging Blockchain and Oracles

To enhance supply chain procedures and cross-border agricultural commodity transactions, the second phase of the Drex central bank digital currency (CBDC) pilot was established by Brazil’s central bank, Banco Central do Brasil (BCB). Moreover, in the second stage, it will employ blockchain and oracles to create a trade financing solution.

November 19, 2024 2 mins read