-
The
Brazilian
central
bank
will
oversee
11
projects
while
the
local
Securities
and
Exchange
Commission
will
supervise
two. -
Visa
was
selected
to
optimize
the
foreign
exchange
market,
while
Santander
plans
to
work
on
a
project
involving
automobile
operations.
Brazil’s
central
bank
(BCB)
selected
on
Wednesday
13
participants
for
the
second
part
of
the
pilot
of
its
central
bank
digital
currency
(CBDC),
called
Real
Digital.
The
BCB
and
Brazil’s
Securities
and
Exchange
Commission
(CVM)
received
42
proposals
for
this
second
phase
of
the
pilot,
called
Drex,
the
bank
said
in
a
statement.
The
BCB
will
oversee
11
projects,
while
the
CVM
will
supervise
two.
“In
the
second
phase
of
testing,
the
infrastructure
created
for
the
pilot
will
test
the
implementation
of
financial
services,
available
through
smart
contracts
created
and
managed
by
third
parties
participating
in
the
platform,”
the
BCB
added.
The
list
of
selected
projects
includes
global
companies
such
as
Visa,
which
will
work
alongside
the
Brazilian
brokerage
XP
and
digital
bank
Nubank
to
optimize
the
foreign
exchange
market.
Spanish
banking
giant
Santander,
for
its
part,
was
selected
to
work
on
a
project
involving
automobile
operations
and
another
focused
on
lending
and
decarbonization.
The
second
part
of
the
pilot
will
include
other
important
local
financial
entities
such
as
Bradesco,
Itaú
Unibanco,
and
the
local
stock
exchange
B3.
The
BCB
added
that
in
the
third
quarter
of
2024
it
will
open
a
new
call
for
firms
interested
in
participating
in
the
Drex
pilot,
which
should
“test
the
implementation
of
smart
contracts
by
the
end
of
the
first
half
of
2025.”
In
May
2023,
the
BCB
selected
14
participants
for
the
first
phase
of
the
Real
Digital.
