Brazil to pilot digital currency in stores

The Banco Central do Brasil (BCB) is to begin piloting the use of its proposed central bank digital currency (CBDC) across a range of transactions including in-store and offline NFC payments.

BCB tested the blockchain-enabled platform supporting the digital real in March. It is now inviting proposals from entities “able to test, based on their corresponding business model, transactions of issuance, redemption or transfer of financial assets, as well as to simulate the financial flows resulting from trading events”, the central bank says.

BCB set up a CBDC study group in August 2020 and named nine partner organisations for the project in March 2022.

Brazil to pilot digital currency in stores was written by Tom Phillips and published by NFCW.