Stellar Foundation Joins Effort To Create Digital Currency Pilot Project in Brazil
The Stellar Development Foundation (SDF) is partnering with a leading crypto exchange as part of a wide-ranging test program seeking to expand Brazil’s blockchain industry.In a new press release, Stellar says it was selected along with the Mercado Bitcoin exchange as one of nine participants in the Challenge Real Digital project.
The project was created by the Central Bank of Brazil’s Financial and Technological Innovations Laboratory (LIFT) to explore possible use cases of a central bank digital currency (CBDC).Mercado Bitcoin says it chose to work with Stellar due to SDF’s past experience with CBDCs and stablecoins, as well as the Stellar network’s “unique combination of speed, efficiency, security, and compliance.”“We are in a consortium of companies that have the structure and ambition to build robust solutions for the financial market through blockchain
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