Among those selected are the largest banks, Visa and Microsoft.
The Central Bank of Brazil has selected 14 institutions to participate in the pilot of a central bank digital currency (CBDC).
Announced Wednesday, the list includes major Brazilian private banks such as Bradesco, Nubank and Itaú Unibanco, as well as Brazil’s largest state bank, Banco do Brasil and the B3 stock exchange.
Multinational companies such as Visa and Microsoft were also selected to participate.
The central bank will begin incorporating institutions into the Real Digital Pilot platform in mid-June 2023.
In total, the bank received 36 proposals of interest from more than 100 institutions in various financial sectors, including payment institutions, cooperatives, public banks, cryptocurrency companies, operates the financial market infrastructure and the clearinghouse.