On Monday, Brazil’s central bank unveiled its imminent central bank digital currency (CBDC), named “DREX,” which is set to launch next year. The purpose behind this initiative is to enhance the country’s financial services through the utilization of this digital currency. The central bank of Brazil revealed the new CBDC
Two major Brazilian institutions have been given permission by Brazil’s central bank to take part in the pilot of the digital real, the country’s central bank digital currency (CBDC). Consortium members, including the major local bitcoin exchange Mercado Bitcoin and the state-owned bank Caixa, have been granted permission to begin
Bangladesh has submitted a formal application to join the BRICS alliance, which has Brazil, Russia, India, China, and South Africa in hand. The application follows a meeting between Prime Minister Sheikh Hasina and South African President Matamela Cyril Ramaphosa in Geneva. This development carries significant implications for the global economic
To better serve its customers, Brazil’s largest cryptocurrency exchange, Mercado Bitcoin, has obtained a payment institution license from the country’s central bank. Mercado Bitcoin now has the legal authority to provide its MB Pay fintech solution, which will include a crypto payments card and other digital banking features. The Central
The United States is seeing a decrease in its once-mighty currency. Due to rising issues such as rising debt, increasing interest rate rises, inflation, and growing uncertainty in the financial markets. The BRICS countries (Brazil, Russia, India, China, and South Africa) have been actively looking for alternatives to the shaky
Bitcoin, the largest cryptocurrency by market capitalization, has transitioned from being an esoteric fascination to a commonly recognized monetary instrument. While its hype extends globally, some countries are at the forefront, experiencing an extraordinary leap in the number of crypto users and owners. Crypto Craze: 2018-2022 Growth in Key Global
Revolut, a digital bank, has recently opened in Brazil, making its services available to Brazilian citizens for the first time. Revolut has already introduced its solutions in Europe and other locations, but this is the company’s first entry into the Latin American market. Foreign exchange and remittance services in numerous
According to recent reports from the Brazilian newspaper Valor Econômico, the Brazilian authorities are investigating Binance. However, Binance has been in the spotlight lately due to regulatory concerns in several countries. The company has been accused of not complying with local regulations. BREAKING: Crypto exchange #Binance under investigation by Federal
The world’s largest crypto exchange, Binance, collaborates with the Brazilian Football Confederation (CBF), the largest football entity in Brazil, to launch the first NFT in the history of Brasileirão Assaí. The collaboration allows fans to access the technology that improves the match experience. Guilherme Nazar, Binance’s Brazil country manager, stated:
With the debut of its stablecoin pegged to the U.S. dollar, major Brazilian investment bank BTG Pactual keeps adding new cryptocurrency services. Using the bank’s custody services, BTG Pactual is getting ready to introduce the BTG Dol, a new stablecoin tied to the U.S. dollar at a 1:1 ratio. On
