Central Bank of Brazil announced the participation of Visa and Microsoft in the digital real pilot

Central Bank of Brazil announced the participation of Visa and Microsoft in the digital real pilot
Brazil's central bank announced the participation of Visa and Microsoft in the digital real pilot
The regulator will start connecting companies to the digital currency platform in mid-June

Brazil's central bank announced the participation of Visa and Microsoft in the "pilot" of the digital real (RD). The regulator published a list of 14 companies and groups of companies selected to participate in the testing of the digital national currency.

The central bank said it received 36 individual and collective applications to participate in the "pilot" from more than 100 institutions. Among them are payment services providers, banks, developers of crypto projects, infrastructure systems operators, and other representatives of the financial sector.

The regulator approved the participation of international companies such as Microsoft and Visa, as well as Brazilian developer 7Comm, Spanish financial and credit group Santander, Brazilian banks Banco do Brasil, Nubank, Banco Inter, investment company XP and cryptocurrency wallet LoopiPay. The central bank will begin connecting participants to the pilot platform by mid-June.

The program will test the privacy and programmability features of digital real on government securities transactions. According to the regulator's plans, this scenario will also allow testing of the processes of information exchange between different platform participants and the compatibility of their services.

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