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John Kiff

Kaj Labs to Partner with Central Bank of Brazil to Launch Digital Real CBDC Trial - 0 views

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    Banco Central do Brasil (BCB) is reportedly partnering with Seattle-based KaJ Labs, to launch the trail of its central bank digital currency (CBDC). However, there's no mention of it on the BCB website, and the Kaj Labs press release makes it sound more like the firm has merely initiated discussions with the BCB. Also, it's unclear whether they're discussing retail of wholesale CBDC. It sounds more like the latter, with a focus on using DLT to tokenize and settle bonds.
John Kiff

Mobile-First Blockchain Celo Launches Stablecoin Tied to Brazilian Real - 0 views

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    "Phone-focused blockchain Celo launched cREAL, a stablecoin pegged to Brazil's local currency, the real. As of Thursday, cREAL will be available on Brazil-based crypto exchanges Ripio, FlowBTC and NovaDAX. Crypto wallets Bitfy and Coins will also support the stablecoin. NovaDAX users will be able to spend cREAL with the prepaid crypto card issued by the crypto exchange. Bitfy customers will be able to use the cREAL throughout the Cielo network, Brazil's largest credit and debit card operator, the company said in a press release Thursday."
John Kiff

Central bank digital currencies (CBDCs) in Latin America and the Caribbean - 0 views

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    he Bank for International Settlements (BIS) published a paper that examines the views toward CBDCs Latin American and Caribbean (LAC) region central banks , drawing on their responses to a survey conducted by the BIS in late 2020 and early 2021. It also examines whether the engagement of LAC central banks with CBDCs can be explained by the structural characteristics of their economies. Thirdly, it reviews the long list of potential benefits, costs and risks of CBDCs, focusing on their relevance to the LAC economies. Finally, the paper reviews the design choices that central banks face and the actual choices made by a number of central banks in the region.
John Kiff

Banco Central Do Brasil Lift Challenge - 0 views

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    "LIFT Challenge is a special edition of the LIFT Lab with a specific objective, carried out by Fenasbac in partnership with the Banco Central do Brasil (BCB). These challenges - focused on a mature audience of banks, payment institutions and fintechs - bring together market participants interested in developing a minimally viable product (MVP) that meets the objective of the edition and proposes innovative solutions that benefit the SFN (National Financial System) and the Brazilian population."
John Kiff

Brazil Says It Will start Its Pilot Test for a CBDC in Q4 2022 - 0 views

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    Central Bank of Brazil President Roberto Campos Neto confirmed that the Digital Real central bank digital currency (CBDC) pilot launch will go live later this year. [Read more]
John Kiff

Digital Real pilot will be launched later this year - 0 views

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    The President of the Central Bank of Brazil, Roberto Campos Neto, reportedly announced that a Digital Real pilot will probably be launched in the second half of 2022.
John Kiff

Survey on potential benefits and challenges of issuing Central Bank Digital Currencies - 0 views

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    The Central Bank of Chile has opened an online survey about its planned CBDC project. The poll is aimed at several audiences, including the financial sector and academics; specialists in payments and technological services; and the general public.
John Kiff

Issuance of a digital currency of the Central Bank in Chile - 0 views

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    The Central Bank of Chile has opened an online survey on its CBDC project. The poll is aimed at several audiences, including the financial sector and academics; specialists in payments and technological services; and the general public. [Read more] This initiative is expected to deepen the evaluation process started in May with the publication of a first report on CBDC issuance. A second report will be published at the end of this year or beginning of 2023.
John Kiff

Central Bank of Brazil Lift Challenge - 0 views

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    "LIFT Challenge is a special edition of the LIFT Lab with a specific objective, carried out by Fenasbac in partnership with the Banco Central do Brasil (BCB). These challenges - focused on a mature audience of banks, payment institutions and fintechs - bring together market participants interested in developing a minimally viable product (MVP) that meets the objective of the edition and proposes innovative solutions that benefit the SFN (National Financial System) and the Brazilian population."
John Kiff

Central Bank of Brazil Lift Challenge Real Digital selects nine vendors - 0 views

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    The Banco Central do Brasil's Lift Challenge Real Digital has chosen nine partners to help develop a digital real, Brazil's central bank digital currency (CBDC). They received 47 project proposals from Brazil, Germany, the U.S., Israel, Mexico, Portugal, the U.K. and Sweden. An implementation phase for the selected projects will begin on March 28 and last until July 27, with an eye towards launching a pilot in 2022 and introducing a final version in 2024.
John Kiff

Central banks, the monetary system and public payment infrastructures: lessons from Bra... - 0 views

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    The Bank for International Settlements (BIS) published a paper on Brazil's recent experience with the Pix retail instant payment system. Since launching in November 2020, Pix has signed up 67% of adults in Brazil, with free payments between individuals and low charges for merchants. The two key ingredients in the success of Pix are, first, the mandatory participation of large banks to kick-start network effects for users, and second, the central bank's dual role as infrastructure provider and rule setter. Pix has also shown how central bank infrastructures can support interoperability and competition, promoting lower costs and greater financial inclusion. These features also have relevance for the possible adoption of retail CBDC.
John Kiff

LIFT Challenge Real Digital selects 9 projects - 0 views

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    The Banco Central do Brasil (BCB) selected 9 of 47 firms that applied to its Laboratory of Financial and Technological Innovations (LIFT) central bank digital currency (CBDC) solution challenge. The initiative aims to identify the fundamental characteristics of Digital Real infrastructure. The 9 firms selected were AAVE, Banco Santander, Febraban, Giesecke + Devrient, Itaú Unibanco, Mercado Bitcoin, Tecban, Vert, Visa (in association with Consensys and Microsoft.
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