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Top related persons:
Fabio Araujo - 2 Araujo - 2 Lisa Mattackal - 1 Divya Chowdhury - 1 Marcela Ayers - 1 Lincoln - 1 Marcela Ayres - 1 Aurora Ellis - 1
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Thomson - 2 Machine - 1 Banco Central - 1 Reuters Global Markets - 1 Atlantic Council - 1 Bank for International - 1

Search resuls for: "Fabio Araujo"


3 mentions found


☆ Privacy, market maturity hurdles facing Brazil's CBDC rollout -cenbank official
  + stars: | 2023-08-29 | by ( Lisa Pauline Mattackal | ) www.reuters.com   time to read: +2 min
Aug 29 (Reuters) - Maintaining privacy and increasing understanding of blockchain technology are primary issues to solve before Brazil's central bank digital currency (CBDC) is ready for widespread use, the central bank's coordinator of the project said on Tuesday. Named DREX, the digital real is set for a first phase launch aimed at financial institutions in May 2024, though postponed from an initial planned launch in February. "We need to ensure that the privacy is compatible with the law," he told the Reuters Global Markets Forum. Market maturity is another important issue to solve as the central bank wants businesses to develop new use cases for the technology, Araujo said. The Atlantic Council says 130 countries are in some process of exploring a CBDC, with 21 in the pilot stage.
Persons: Fabio Araujo, Araujo, Lisa Mattackal, Divya Chowdhury, Marcela Ayers, Lincoln Organizations: Machine, Banco Central, Reuters Global Markets, Atlantic Council, Bank for International, Thomson Locations: Brazil, Mexico, Singapore, Bangalore, Mumbai
☆ Brazil central bank names its digital currency 'DREX,' scheduled for 2024 launch
  + stars: | 2023-08-07 | by ( ) www.reuters.com   time to read: +1 min
BRASILIA, Aug 7 (Reuters) - Brazil's central bank forthcoming digital currency, set to launch next year, will be named DREX, it announced on Monday, aiming to use the currency to boost financial services. The DREX will use distributed ledger technology (DLT) to settle wholesale interbank transactions, while retail access will be based on tokenized bank deposits. Officials from the central bank previously predicted that the adoption of the Brazilian digital currency would commence by the end of 2024, following the completion of its testing phase. During a live discussion organized by the central bank, he emphasized that the development of DREX is primarily aimed at improving access to financial services in the country. "By enabling simple and reliable access to registered values through DLT technology, we reduce costs and democratize access to financial services," Araujo stated.
Persons: Fabio Araujo, Araujo, Marcela Ayres, Aurora Ellis Organizations: Thomson Locations: BRASILIA, Brazil
☆ Brazil announces pilot for digital currency seeking to leverage financial services
  + stars: | 2023-03-06 | by ( ) www.reuters.com   time to read: +2 min
BRASILIA, March 6 (Reuters) - Brazil's central bank announced the start of a digital currency pilot project on Monday, aiming to replicate the success of its instant payment system Pix to popularize financial services in the country. Araujo said the "digital real" will be built as a means of payment executed on distributed ledger technology (DLT), to support the provision of retail financial services settled through tokenized deposits in institutions of the financial and payment systems in Brazil. There is a great potential for new service providers, fintechs, democratizing access to the market and offering new services." Araujo stressed that the concept of the Brazilian central bank digital currency (CBDC) was not intended to leverage digital payments, as this is already being done on a large scale with Pix, which was launched at the end of 2021 and has been widely adopted in Brazil. "Banks are very interested in this new tokenized world, in every conversation we have they have shown a lot of interest," said Araujo.
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