The Banco do Brasil (BB) announced on Wednesday (26) the start of testing a new platform aimed at facilitating interaction with Drex, the digital currency of the Central Bank. The information was disclosed during Febraban Tech, a technology and innovation event in the financial system, taking place in São Paulo.
The platform, initially intended for bank business areas employees, simulates operations such as issuance, redemption, and transfer of Drex, as well as transactions with tokenized federal public securities. According to BB’s statement, the solution enables “in a simple and intuitive way” the testing of use cases planned in the first phase of the Central Bank’s digital currency pilot project.
Rodrigo Mulinari, BB’s technology director, emphasized the importance of familiarizing with these procedures, as access to the Drex platform will require an authorized financial intermediary.
The test is part of the Drex Pilot, an experimentation phase for the digital currency. The first stage, ending this month, focuses on validating privacy and data security issues, as well as testing the platform’s infrastructure. The second phase, scheduled to start in July, will incorporate new use cases, including assets not regulated by the Central Bank, which will also involve the participation of other regulators, such as the Securities and Exchange Commission (CVM).
This Banco do Brasil initiative represents a significant step in the development and implementation of the Brazilian digital currency, demonstrating the banking sector’s commitment to financial innovation.
