What's Hot

    Binance Freezes $4.4 Million Worth of Crypto

    May 27, 2023

    Binance Partners with Gulf Innova to Launch Exchange in Thailand

    May 27, 2023

    Microsoft and Visa Set to Participate in Brazil CBDC Pilot

    May 26, 2023
    Facebook Twitter Instagram
    Facebook Twitter Instagram
    The Bull's GazetteThe Bull's Gazette
    Members Area
    • News
      1. Markets
      2. Policy & Economy
      3. Business
      4. Tech
      Featured

      Binance Freezes $4.4 Million Worth of Crypto

      News May 27, 2023
      Recent

      Binance Freezes $4.4 Million Worth of Crypto

      May 27, 2023

      Binance Partners with Gulf Innova to Launch Exchange in Thailand

      May 27, 2023

      Microsoft and Visa Set to Participate in Brazil CBDC Pilot

      May 26, 2023
    • Features
      • Opinion
    • Research
      • Publications
      • Market Analysis
      • Contribute
    • Finance & Crypto Guides
    • Consultation
    • Membership
    • Store
    The Bull's GazetteThe Bull's Gazette
    Home»News»Microsoft and Visa Set to Participate in Brazil CBDC Pilot
    News

    Microsoft and Visa Set to Participate in Brazil CBDC Pilot

    Anietie DavidBy Anietie DavidMay 26, 2023Updated:May 26, 2023No Comments2 Mins Read
    Microsoft and Visa Set to Participate in Brazil CBDC Pilot
    Image from Wikimedia Commons
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Microsoft will be participating in the forthcoming pilot project for Brazil’s central bank digital currency (CBDC). Banco Central do Brasil, the country’s central bank, plans to onboard participants onto the digital real platform starting in mid-June 2023.

    On May 24, the central bank released the final roster of participants for the CBDC pilot. The participants were selected from a pool of 36 proposals submitted by individual companies and consortia, with a combined total of over 100 institutions. The final count of participants is 14, although some represent groups of companies. For instance, one of the 14 participants consists of Microsoft, the US-based tech giant, Banco Inter, a Brazil-based bank, and 7COMm, a digital technology company.

    Alongside Microsoft, other participants include Visa, Santander, and several Brazilian banking institutions like Itaú Unibanco, BTG Pactual, and Banco Bradesco.

    Brazil CBDC to Rest for Privacy and Functionalities

    During the current phase of the digital real pilot, the central bank will assess the privacy and programmability features of its platform using a specific use case: a delivery versus payment protocol for federal public securities.

    The official announcement of the Brazilian CBDC pilot took place in 2022. The digital real would be pegged to the national fiat currency, the real, maintaining a fixed supply and gradual minting over time.

    With a population of 214 million, Brazil, as the largest country in Latin America, continues to attract global cryptocurrency companies. In January, Binance and Mastercard collaborated to introduce a prepaid crypto card in the country. Since March, Coinbase has partnered with local payment providers to facilitate crypto purchases and enable deposits and withdrawals in the local currency. On May 19, the central bank granted Latam Gateway, the payment provider for Binance in Brazil, a license to operate as a payment institution and electronic money issuer.

    Blockchain Brazil Microsoft VISA
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleFrench Lawmakers Looking to Relax Strict Crypto Regulations 
    Next Article Binance Partners with Gulf Innova to Launch Exchange in Thailand
    Anietie David

    Anietie has worked in the blockchain industry for three years, gaining experience in blockchain technology, cryptocurrencies, DeFi, and NFTs. As a seasoned content writer, he is passionate about creating effective content strategies for blockchain brands. In addition to content writing, he also has a strong interest in front-end development. When he's not working, he spends his time reading horror novels or playing CODM.

    Related Posts

    Binance Freezes $4.4 Million Worth of Crypto

    May 27, 2023

    Binance Partners with Gulf Innova to Launch Exchange in Thailand

    May 27, 2023

    French Lawmakers Looking to Relax Strict Crypto Regulations 

    May 26, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    Top Posts

    French Lawmakers Looking to Relax Strict Crypto Regulations 

    May 26, 2023

    Russian Lawmakers Propose Changes to Digital Ruble Bill

    May 24, 2023

    Japan Set to Enforce Strict Crypto Anti-Money Laundering Laws

    May 24, 2023

    Our best content, straight to your inbox.

    Disclaimer

    Capital at risk. Content on this website does not constitute financial advice. Please do your due diligence before making any investment.

    Company
    Company

    At the forefront of news and analysis for emerging markets, business, crypto and tech - TBG is redefining financial information through resources for next-generation economics.

    Facebook Twitter Instagram LinkedIn TikTok Discord
    Links
    • About
    • Contribute
    • Advertise
    • Careers
    • Membership
    • Investor Relations
    • Frequently Asked Questions

    TBG Newsletter

    © 2023 The Bull's Gazette.
    • Terms and Privacy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.