The Central Bank of Brazil is advancing in its pilot program for the launch of its central bank digital currency –CBDC-, the real digital. For this purpose, the entity has selected Itau Unibancoone of the largest banks in the country, to build a decentralized financial solution that includes the construction of a stablecoin pegged to the real.
The application will include functions commonly present in liquidity pools, but linking the real with other stablecoins that represent fiat currencies from around the world.
Although not much has been revealed about the project at the moment, the application could support asset pooling, alternative investments, and the management and custody of these assets using blockchain-based software.
The project presented by Itau Unibanco is one of the eight that were selected by the Central Bank of Brazil as part of the Laboratory of Financial and Technological Innovations (LIFT) Lab, a financial innovation program that is in its fifth edition.
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