In Brazil, digital real will be used to create other cryptocurrencies

According to the head of the Central Bank of Brazil, Roberto Campos Neto, the digital currency (CBDC) will be used by banks as collateral for issuing their own stablecoins.

Brazil’s digital currency will be different from the CBDCs of other countries. The Brazilian real will become a wholesale asset rather than a public token focused on retail.

«Banks will be able to issue stablecoins for their deposits. But they will have to develop the technology for this and invest in it, because then they will make a profit from it,» Campos Neto emphasized.

Brazil also drew attention to tokenization, which is intended to improve the country’s economy. The introduction of the tokenization model will simplify the payment of loans or mortgages by reducing fees and waiting time, as well as simplifying paperwork.

Citizens with sufficient funds are already buying real estate for bitcoins. One of the largest Brazilian real estate developers accepts payments in BTC. They agreed to this step to eliminate intermediaries in the long and complicated chain of apartment sales.