### Banco Central do Brasil (Brazil's central bank) has announced that it will be inviting various institutions to participate in the digital real platform. Set to commence in mid-June 2023, this groundbreaking initiative aims to explore the potential of a central bank digital currency (CBDC) in Brazil.

The central bank recently unveiled the complete roster of contributors for the CBDC pilot program, which received an impressive 36 proposals from diverse businesses and groups representing over 100 institutions. However, due to the limited capacity, only 14 proposals were accepted, with some representatives standing for entire corporations.



Among the prominent participants in this pioneering project are global payment technology leader Visa, tech giant Microsoft, renowned financial institution Santander, and several major Brazilian banks including Ita Unibanco, BTG Pactual, and Banco Bradesco. Their involvement highlights the wide-ranging support and interest in the digital real platform.



The concept of a Brazilian CBDC was first announced in 2022, outlining the plan to create a digital currency closely tied to the value of the national fiat currency, the real. This integration ensures consistency and stability within the financial system, while also offering enhanced efficiency and security in transactions.



As the implementation of the Brazilian CBDC pilot approaches, anticipation grows for the potential transformation of the country's financial landscape. With influential players joining forces with Brazilian banks, the stage is set for an exciting journey into the future of digital currency and its impact on the Brazilian economy.

In an exciting development for the future of finance, the Banco Central do Brasil (Brazil's central bank) has announced that it will be inviting various institutions to participate in the digital real platform. Set to commence in mid-June 2023, this groundbreaking initiative aims to explore the potential of a central bank digital currency (CBDC) in Brazil.

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