The Central Bank of Brazil has published the final list of participant to pilot its central bank digital currency (CBDC).
The list comprises both national and global companies. The Central Bank of Brazil will begin incorporating the participants in the digital real platform in mid-June 2023.
The Central Bank of Brazil chosed the participants out of 36 bids, made by single companies and consortia, “totaling more than 100 institutions”.
The final number of participants is 14. Some of these participants are the US-based tech giant Microsoft, Brazilian bank Inter, and IT development company 7COMm.
Other participants are Visa, Spanish bank Santander and mostly Brazilian banking institutions, such as Itaú Unibanco, BTG Bank, Bradesco and others.
Brazilian CBDC pilot was officially announced in 2022. The value of digital real would be pegged against the national fiat payment system and it would have a fixed supply and only a certain amount of it would be minted.