Yesterday cryptocurrency exchange Mercado Bitcoin announced that the Stellar Development Foundation is joining its central bank digital currency (CBDC) consortium that’s involved in Brazil’s LIFT Challenge for a digital Brazilian Real. The Central Bank of Brazil had previously stated that a digital Real pilot could start in the fourth quarter, consistent with Stellar’s reference to the second half of 2022.
In March, the central bank and Fenasbac, which runs the LIFT Lab for innovation, unveiled the nine CBDC Challenge consortia participating in the trials.
The challenge is exploring various potential use cases for a digital currency. In some ways, the Mercado Bitcoin consortium might be the most straight forward in that it aims to demonstrate delivery versus payment (DvP) or instant settlement for crypto-assets. Of course, that’s something that happens all the time with stablecoins. Other participants in the Mercado Bitcoin consortium include Bitrust and CPqD.
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