Brazilian Crypto Exchange Mercado to Take Part in Digital Real Tests

Visa, Microsoft, and crypto exchange Mercado, a licensed crypto company which is operating legally within the Brazilian market, have been chosen by the Brazilian Central Bank to join the project to create a Brazilian Digital Currency (CBDC).

Along with Caixa Bank, they will participate in in-depth testing and development of the token by the end of 2024.

Fabrício Tota, top executive of the crypto company, said that their involvement is a testament to the Central Bank’s mission to bring innovation to the financial sector and foster collaboration with businesses.

It is also anticipated that the CBDC implementation will provide greater accessibility to financial services to the Brazilian population.