Brazil’s central bank has unveiled its digital currency, DREX, set to launch in 2024 to enhance the country’s financial services. DREX will employ distributed ledger technology (DLT) for wholesale interbank transaction settlements and offer retail access through tokenised bank deposits. Although the initial rollout was expected by the end of 2024, possible delays could arise due to staff strikes. Fabio Araujo, the coordinator of this project, said the goal is to make financial services more accessible in the country.
Source: https://www.reuters.com
