Brazil’s Central Bank Halts Drex CBDC Platform, Plans New Collateral System
- The Central Bank of Brazil announced the discontinuation of its platform for the CBDC initiative known as Drex.
- Drex was initially used in the first two phases of Brazil’s CBDC project.
- Fabio Araujo, the project coordinator, indicated a shift towards a new platform to facilitate asset collateralization.
The Central Bank of Brazil is ending its current CBDC platform for Drex after initial phases and plans to pivot to a system that supports asset collateral use.
This strategic change highlights a shift in focus from running Drex on the existing platform to developing new functionalities for asset management. Source
