Skip to main content

Mercado Bitcoin Partners With Stellar To Create MVP For Brazilian CBDC


Brazilian exchange Mercado Bitcoin announced its partnership with the Stellar Development Foundation (SDF) on Tuesday. The company said it intends to develop one of the nine projects selected for the LIFT Challenge Real Digital, promoted by the Central Bank of Brazil.

The LIFT Challenge Real Digital is a collaborative environment carried out by the Central Bank of Brazil (Bacen), in partnership with the National Federation of Associations of Central Bank Servers (Fenasbac). With the announcement of Stellar's integration, SDF will join the consortium created by Mercado Bitcoin to develop solutions for Real Digital and which also has CPQD and ClearSale.

CEO of Stellar Development Denelle Dixon said that Stellar’s network is prepared to support Mercado Bitcoin and the Central Bank of Brazil as they explore use cases for the Real Digital’s future. “Stellar was designed for asset issuance, and its built-in compliance tools give Mercado Bitcoin a strong foundation to develop a solution with the features that Bacen expects to see,” she claimed.

According to the statement, Mercado Bitcoin selected the Stellar network due to the speed, efficiency and security of the protocol.


đź”·Revealed In 2022đź”·

What indicators do professional traders use?

"We are in a consortium of companies that have the structure and ambition to build robust solutions for the financial market through blockchain technology. Utilizing the Stellar network will allow us to deliver a complete case for evaluation by the Central Bank," said Reinaldo Rabelo, CEO of Mercado Bitcoin.

In addition to the consortium created by Mercado Bitcoin, the Central Bank of Brazil also chose the DeFi Aave (AAVE) protocol and ConsenSys in partnership with Visa and Microsoft to develop use cases for the nation's Real Digital.

In April, Cointelegraph reported that the president of Brazil's Central Bank had confirmed that the country’s sovereign digital currency pilot will go live this year. However, this release will still be a pilot version and will not be available to the entire population of the country. According to Campos Neto, the Real Digital hopes to enable smart contracts and decentralized finance on the CBDC platform.

 

Hot Topics

Forex Volatility : Everything You Need To Know In 2022

South Korean Police Request Exchanges Freeze LFG Related Funds.

Terra’s Meltdown Highlights Benefits Of CEX Risk-Management Systems

“The Real Digital initiative is a response to the rapid progress of digital transformation and society's demand for native means of settlement in a new environment. conditions for important efficiency gains to be achieved," said Campos Neto last year.

Fábio Araujo, coordinator of the Real Digital project within the BC, recently stated that the Central Bank aims to allow the construction or interconnection of the national financial system with decentralized finance (DeFi) and with smart contracts. These are, in his opinion, the great contributions of the blockchain ecosystem and cryptocurrencies.

“These fundamental points of the crypto environment we intend to bring within our regulatory perimeter to do a mass thing to give access to more people. We want to bring smart contract and Defi technologies inside so that we can reach a wider audience," he said. - Cointelegraph

Labels:

Comments

Post a Comment

Popular posts from this blog

Inflation is anticipated to have an impact on fuel demand, which is contributing to a decline in the price of oil.

On Tuesday, oil prices declined, erasing some of the gains made in the previous trading session. This was due to market participants' concerns that more aggressive interest rate hikes from central banks could result in a worldwide economic slowdown and a reduction in the demand for fuel. After gaining 4.1% on Monday, the largest gain in more than a month, Brent crude futures LCOc1 for October settlement dropped 81 cents, or 0.7%, to $104.28 a barrel as of 03:59 GMT on Tuesday. This coming Wednesday marks the end of the October contract, while the more active November contract was trading at $102.33, a decrease of 0.6%. Following a surge of 4.2% in the previous session, the price of U.S. West Texas Intermediate crude CLc1 was reported to be $96.68 per barrel, a decrease of 33 cents, or 0.3%. Inflation is close to reaching double digits in many of the world's largest economies, a level that has not been seen in almost half a century. This could prompt central banks in the United ...
Post a Comment
Read more

Discovering the World's Most Exquisite Natural Sceneries

In our pursuit of uncovering Earth's most mesmerizing natural landscapes, we've embarked on a global journey, seeking out unspoiled and awe-inspiring wonders of nature. The following expedition will guide you through an enchanting tour of the world's most stunning natural sceneries, each more captivating than the last. From luxuriant forests to dramatic cliffs and tranquil beaches, this serves as the ultimate handbook for immersing yourself in the beauty of nature. If you've ever wondered how to save money for a vacation while exploring the Most Beautiful Natural Landscapes, we've got you covered with practical tips and guidance to turn your dream vacation into a reality. The Enthralling Beauty of the Amazon Rainforest The Amazon Rainforest, often dubbed as the "Lungs of the Earth," stands as an unparalleled natural marvel. Spanning across South America, this lush and vibrant forest is home to an astounding variety of wildlife and plant species. The sheer ...
Post a Comment
Read more

Google Gets In On Ethereum Merge Excitement With Nifty Easter Egg

The new feature has been added with just days left until the long-awaited Ethereum Merge. As a sign of support for the upcoming Ethereum Merge, tech juggernaut Google is marking the time left until the upgrade with a new countdown timer.  Typing any variation of “Ethereum Merge” or “The Merge” into the search engine shows a countdown ticker, with the estimated time left until the Merge based on the current difficulty, hash rate and merge difficulty. Off to the side is a cartoon of two happy pandas running toward each other with outstretched hands, which supposedly will get closer as the Merge date draws nearer. In a Friday tweet, Google Cloud developer Sam Padilla said that the timer was “a fun little surprise” and a way to show their appreciation of “the work that has been going into this for years.”   He said the work was done by Google’s search and labs team but noted that he helped “ kickstart ” the idea and discussion that led to the timer being implemented. In the same ...
Post a Comment
Read more