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Brazil's Central Bank Selects 14 Participants for CBDC Pilot

The Central Bank of Brazil has chosen 14 institutions to participate in the pilot of the digital real, the country's central bank digital currency (CBDC). The list includes major local private banks, the largest public Brazilian bank, and multinational companies such as Visa and Microsoft.

The central bank will begin incorporating participants into the Real Digital Pilot platform in mid-June 2023. The bank received 36 interest proposals from over 100 institutions from various financial sectors.

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