Brazil’s CBDC will be ready by 2022

ews item of September 2 from the media Correio Braziliense. Specifically, Roberto Campos Neto, president of the Central Bank of the nation, indicated: „The CBDC of Brazil will be ready by 2022, since it has the necessary conditions“.

In addition, he added:

  1. „The institution has definitely been taking steps to modernize the Brazilian financial system for some time. Therefore, the launch of a CBDC is the next step for the evolution“.

Central Bank of Brazil studies CBDCs

The CBDC of Brazil
In particular, among the measures adopted for the launch, is the PIX. Currently, it is Brazil’s instant payment system.

Indeed, it allows users to make transactions between themselves and between companies. In fact, in approximately 10 seconds, through a Smartphone, Internet banking or ATMs.

In this regard, Roberto Campos Neto clarified: „The launch of a Crypto Cash is not a surprise. As it is known, in August it was reported that a group dedicated to the evaluation of digital currency had been created“.

BIS publishes information on the CBDCs