One of several digital real central bank digital currency (CBDC) tests has demonstrated using a Brazilian CBDC on public blockchain. The pilot, jointly led by crypto exchange Mercado Bitcoin and Stellar blockchain, simulated delivery versus payment (DvP) transactions, in which the asset and the money exchanged simultaneously, as reported by Valor Econômico.
The test was part of the LIFT Challenge, the Central Bank’s CBDC trial, exploring potential use cases for the digital real with nine consortia. While most participants are institutions, two cryptocurrency organizations were selected to run these tests, including DeFi firm Aave Labs.
“Our thesis was to prove that it is possible, viable and safe to carry out transactions with digital assets using a representation of the real on public networks,” said Fulvio Xavier, responsible for special projects at Mercado Bitcoin. “The Central Bank is always concerned about understanding what happens when transactions leave its hands”,
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