{"id":22264,"date":"2023-06-13T21:42:16","date_gmt":"2023-06-14T01:42:16","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/brazil-central-bank-to-host-cbdc-tokenization-events\/"},"modified":"2023-06-13T21:42:18","modified_gmt":"2023-06-14T01:42:18","slug":"brazil-central-bank-to-host-cbdc-tokenization-events","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=22264","title":{"rendered":"Brazil Central Bank to Host CBDC, Tokenization \u2018Events\u2019"},"content":{"rendered":"
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Brazil\u2019s Central Bank, the Banco Central do Brasil (BCB), has unveiled a \u201croadmap\u201d of events ahead of the nation\u2019s CBDC rollout.<\/p>\n

In an official BCB release, the bank stated that it would also begin assessing the possibility of enabling the launch of tokenized assets.<\/p>\n

The BCB unveiled a list of \u201cmonthly webinars\u201d as part of its digital real platform development.<\/p>\n

The events will run until November and will see the bank, fintech experts, and BCB partners discuss CBDC rollouts, as well as the results of the BCB\u2019s own digital real pilot.<\/p>\n

The pilot is now moving into advanced stages ahead of a slated rollout next year.<\/p>\n

Several high-profile companies were unveiled as digital real partners last month.<\/p>\n

These include the crypto-keen neobanking unicorn Nubank.<\/p>\n

A small number of domestic crypto firms were also included as consortium members.<\/p>\n

Policy-making \u201cworking groups\u201d will also meet until November to discuss tokenized assets and CBDC-related matters.<\/p>\n

The BCB said the groups would look to compare \u201cthe Brazilian experience\u201d with \u201cinternational scenarios.\u201d<\/p>\n

They also want to \u201cstudy of the impact of the use of distributed ledger technology and blockchain technology\u201d on \u201cservices and markets.\u201d<\/p>\n

And the central bank said it wanted the groups to examine the cybersecurity credentials of existing tokenization solutions.<\/p>\n

Brazil Central Bank\u2019s CBDC and Tokenization Plans<\/h2>\n

The working groups will also be tasked with examining \u201cthe legal framework\u201d surrounding tokenization and the \u201ceventual proposal of regulatory amendments.\u201d<\/p>\n

A discussion forum with \u201cother regulators and market participants\u201d was also touted.<\/p>\n

Academic, industry insiders, regulators, and international organizations will be invited to contribute to the webinars and meetings, the bank said.<\/p>\n

The central bank has previously stated that it wants to launch a digital fiat in 2024 following its behind-closed-doors pilot.<\/p>\n

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The bank has also promised that its CBDC will differ from others by aiming to aid domestic startups.<\/p>\n

The BCB said that while other banks\u2019 CBDC projects are focusing on retail markets, the Brazilian token will \u201cfoster new business\u201d in the financial services sector.<\/p>\n<\/p><\/div>\n