The largest country in Latin America could have its central bank digital currency (CBDC) soon, as the Brazilian central bank is taking steps towards creating it. Recently, the Banco Central do Brasil (BCB) president hinted at the possibility of having news on the matter “soon.”
No Decision Has Been Made on Whether the Digital Real Will Be Interest-Bearing
During an online debate hosted by the Bank of Spain, cited by Reuters, Roberto Campos Neto highlighted that the central bank is “making progress” on the plans to digitalize the Brazilian real.
He called central banks globally to keep discussing on CBDCs and deepen its talks to advance in further digitalizing the economy:
We are making great progress on the digital currency process, and we should have news soon.
However, Campos Neto didn’t specify the details on the progress made by the central bank. Still, he pointed out that some topics are still in the pipeline, such as if the…