06/26/2024 – 13:06
Banco do Brasil began testing an operations simulator with Drex, the digital version of Real, which will be used by employees in business areas. According to the bank, the platform will allow the simulation of the issuance, redemption and transfer of Drex, in addition to carrying out operations with tokenized federal public bonds.
There will be three profiles: customers, for operations between individual or legal entities; financial institution, for operations between BB accounts and other banks; and TPFt, for public bonds. After choosing the profile, the user selects the operation to perform.
The simulator will help bank employees better understand how the digital currency, which is currently in the testing phase, will work. BB is one of the institutions that are part of the Drex pilot, led by the Central Bank.
“Familiarity with these procedures is important because, to access the Drex platform, users will need an authorized financial intermediary,” says BB’s Technology Director, Rodrigo Mulinari. The simulator is one of the technologies that the bank is showcasing at Febraban Tech, held this week in São Paulo.
Drex will be a wholesale currency, which means that the customer will need the intermediation of a bank to make transactions. It is a way to prevent the use of the digital version of the Real from generating so-called disintermediation, which is the migration of financial transactions and financial values off the banks’ balance sheets.
The second phase of the Drex pilot begins in July. It will incorporate new use cases, including those for assets that the BC does not regulate, such as those that have rules determined by the Securities and Exchange Commission (CVM).
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