Home » Economy minister says Brazil will have its own CBDC
Policy & Regulations

Economy minister says Brazil will have its own CBDC

Economy minister says Brazil will have its own CBDC

Brazilian Financial system Minister Paulo Guedes has stated that Brazil will problem its personal central financial institution digital foreign money, or CBDC.

Guedes made the assertion on Thursday throughout a ceremony celebrating the 100 millionth digital financial savings account opened at Caixa Economica Federal:

“Now that the central financial institution is autonomous once more, it’s additionally superb within the digital dimension: Pix, OpenBank, fintechs and digital foreign money. Brazil can have its personal digital foreign money. Brazil is forward of many international locations.”

That is the primary time that the minister has spoken immediately on the topic, though he has not supplied any additional particulars on the CBDC undertaking being performed by the central financial institution.