Is Brazil coming next after e-yuan of China?
Brazil’s chief central banker, Roberto Campos Neto said “CBDCs are the consequence of fast-digitizing financial systems such as Brazil’s. Banco Central is rolling out its PIX instant payments system in November and launching an Open Banking initiative later this year “
BCB established a study group on issuance of CBDC
This comment makes sense, as in mid-August 2020, Banco Central do Brasil (BCB) created a study group, which objective is to study the central bank digital currency (CBDC) and evaluate the potential benefits and impacts of issuing the Brazilian Real in a digital format.
In their press release dated September 2nd mentioned that “BCB will start by studying the digital currency issuance model to understand the phenomenon and its potential impacts, particularly on as financial inclusion, economic growth, technological innovation and efficiency of financial transactions.”