Brazil Drex (Digital Real)
Banco Central do Brasil
Status
Architecture
Cross-Border Projects
No cross-border projects reported.
Capabilities
Frequently Asked Questions
Does Brazil have a CBDC?
Yes, Brazil is developing Brazil Drex (Digital Real), currently in pilot phase.
What is the status of Brazil's CBDC?
Brazil Drex (Digital Real) is in pilot phase as of 2026-02-17. The pilot program is actively testing with real users.
When did Brazil launch its CBDC pilot?
The pilot launched on 2024-08-01.
How many people use Brazil's CBDC?
User and wallet metrics are not publicly available at this time.
Is Brazil's CBDC retail or wholesale?
Brazil Drex (Digital Real) is a wholesale CBDC designed for interbank settlements and large-value transactions.
Which central bank manages Brazil Drex (Digital Real)?
Brazil Drex (Digital Real) is managed by Banco Central do Brasil.
Recent Developments
According to BCB Deputy Governor Renato Gomes (May 2025), Drex pilot has evolved through three phases: Phase 1 (March 2023-May 2024) focused on privacy technologies including zero-knowledge proofs and confidential computing; Phase 2 (September 2024-present) expanded to 13 use case themes including receivables assignment, credit collateralization (CDBs, public debt, credit card receivables, debentures), international trade finance, and FX market improvements; Phase 3 (announced June 2025) targets tokenization, consumer credit, and transaction efficiency. The BCB confirmed the 'privacy trilemma' challenge - difficulty balancing privacy, scalability, and programmability simultaneously. In 2025, BCB shut down the blockchain-inspired component due to high maintenance costs and unresolved privacy issues, shifting to a technology-agnostic short-term strategy that bridges current settlement systems to potential future DLT adoption when technology matures. Key participating institutions include Visa, Santander, Mastercard, Microsoft, Itaú, BTG Pactual, Bradesco, and Nubank among 70+ authorized participants. Drex is a closed institutional pilot with no public wallet or merchant metrics available.
Updated: 2/17/2026