Payments giant Visa has developed a portfolio of solutions to integrate central bank digital currency (CBDC) into the Brazilian financial ecosystem. It is reported by the local newspaper livecoins.
After several months of research, the company introduced a programmable platform designed for small and medium enterprises.
As part of the initiative, Visa partnered with Agrotoken, Microsoft and Sinqia.
The company said that the digital real platform will be of particular interest to private farmers and agricultural enterprises.
The development “expands access to global capital markets, facilitates the interaction between currencies, improves operational processes and opens up new opportunities for economic growth.”
In addition, the payment corporation has developed a new technology based on smart contracts for closed-bid auctions, which allows “a global pool of investors to participate in the financing process, achieving a competitive price.”
The service is built on the Universal Payment Channel technology and uses the transaction verification mechanism from Microsoft.
According to Visa representatives, the functionality of the solution will allow enterprises to use the digital real in many markets and networks, as well as “reduce the inconvenience caused by the lack of access to traditional services.”
Recall that the Central Bank of Brazil has scheduled the launch of CBDC for 2024. The head of the regulator, Roberto Campos Neto, said that the design of the digital real would serve as an incentive for banks to tokenize assets in order to increase efficiency.
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Payments giant Visa has developed a portfolio of solutions to integrate central bank digital currency (CBDC) into the Brazilian financial ecosystem. It is reported by the local newspaper livecoins.
After several months of research, the company introduced a programmable platform designed for small and medium enterprises.
As part of the initiative, Visa partnered with Agrotoken, Microsoft and Sinqia.
The company said that the digital real platform will be of particular interest to private farmers and agricultural enterprises.
The development “expands access to global capital markets, facilitates the interaction between currencies, improves operational processes and opens up new opportunities for economic growth.”
In addition, the payment corporation has developed a new technology based on smart contracts for closed-bid auctions, which allows “a global pool of investors to participate in the financing process, achieving a competitive price.”
The service is built on the Universal Payment Channel technology and uses the transaction verification mechanism from Microsoft.
According to Visa representatives, the functionality of the solution will allow enterprises to use the digital real in many markets and networks, as well as “reduce the inconvenience caused by the lack of access to traditional services.”
Recall that the Central Bank of Brazil has scheduled the launch of CBDC for 2024. The head of the regulator, Roberto Campos Neto, said that the design of the digital real would serve as an incentive for banks to tokenize assets in order to increase efficiency.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
