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Banco Central do Brasil extends scope of Digital Real pilots

Source: Banco Central do Brasil

Banco Central do Brasil (BCB) established rules and procedures for operating the Real Digital pilot project (RD Pilot).

It created an Executive Management Committee (CEG) with specific attributions for the governance and implementation of the RD pilot.
Decisions were set forth in BCB Resolution 315/2023 and Vote 73/2023.

In February 2023, the BCB revised the Real Digital guidelines through Voto 31/2023. In March, a pilot project started, aligned with the updated guidelines. The RD Pilot - a collaborative environment for testing and developing a platform with distributed ledger technology (DLT), performed the first tests of a platform for Real Digital. On April 10, 2023, the BCB organized the RD Pilot Workshop to discuss RD Pilot’s premises with representative entities of the SFN and SPB, representatives of other regulatory agencies, and the press.

It is worth mentioning that the number of participants in the RD Pilot is limited to 10 institutions, selected according to criteria and procedures set forth in regulations. Employees of other regulatory agencies and entities of the National Financial System (SFN) may participate in the RD Pilot as observers, at the CEG's discretion and upon the invitation of its coordinator.

Proposals for adhesion

Between May 2nd and May 12th, CEG will receive proposals from entities interested in joining the RD Pilot. May participate institutions authorized to operate by the BCB that are necessarily able to test, based on their corresponding business model, transactions of issuance, redemption, or transfer of financial assets, as well as to simulate the financial flows resulting from trading events, when applicable to the financial asset being tested.

Without prejudice to the work coordination by the BCB, each selected participant will appoint a technical representative to manage its technical team and conduct the necessary discussions with other participants and the BCB to develop the RD Pilot.

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