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Drex will join CNJ, Senatran and other regulators, reveals Central Bank of Brazil
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Last Wednesday (13), during a blockchain event promoted by FGV, Drex Coordinator, Fabio Araújo, announced the next phase of integration of Brazilian digital currency with several regulatory bodies, including the National Council of Justice (CNJ ), Senatran and the Private Insurance Superintendence (SUSEP).
“We are discussing with the ONR to bring real estate assets to the network, which would allow notary offices to integrate with Drex, if the CNJ approves,” stated Araújo.
The proposal also includes conversations with Senatran so that Detrans can participate in the network directly or indirectly. This will enable decentralized management of vehicle-related assets.
According to Araújo, the integration of Drex with other regulators increases the possibilities of using the national CBDC, which could incorporate assets such as insurance, among other use cases than just the DVP settlement proposed in the first phase.
Drex Integration
The Central Bank’s expectation is that this phase will result in significant advances by the end of 2025. This is because from then on, the population should start testing Drex.
Also during the event, the coordinator emphasized that Drex will reduce entry barriers for fintechs and startups in the financial market.
“Our proposal is to create an aggregation layer, like Netflix, that organizes content and knows the user to offer what they like. The Drex financial aggregator will be implemented by banks and fintechs, as is already the case with Open Finance and Pix”, he explained.
Araújo also pointed out the challenges for the popularization of digital assets and cryptocurrencies, highlighting the need for a regulated and suitable platform for these technologies to be integrated into people’s lives.
He further mentioned that Drex focuses on three main features: programmability, coexistence between digital currency and tokenized deposits, and a single ledger.
These qualities, according to him, allow the Central Bank to dialogue with the market, promoting stability, while at the same time opening space for innovation.
Drex will join CNJ, Senatran and other regulators, reveals Central Bank of Brazil
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Drex will join CNJ, Senatran and other regulators, reveals Central Bank of Brazil
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Drex will join CNJ, Senatran and other regulators, reveals Central Bank of Brazil
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Drex will join CNJ, Senatran and other regulators, reveals Central Bank of Brazil
