Central Bank of Brazil Rebrands CBDC to 'Drex,' Launch Expected by 2024.
23 Aug 2023, 08:00
Central Bank of Brazil Rebrands CBDC to ‘Drex,’ Launch Expected by 2024
The Central Bank of Brazil has issued a press release revealing details about “drex,” the Brazilian central bank digital currency (CBDC) formerly known as the digital real. The bank explained the need for a rebranding and detailed how it might revolutionize transactions with digital contracts for real estate and vehicles. Drex is expected to be launched next year.
Central Bank of Brazil Rebrands Digital Real to DrexThe Central Bank of Brazil has revealed the reasons behind the rebranding of the Brazilian central bank digital currency (CBDC), formerly known as the digital real, to drex. In a press release issued last week, the bank reported the new name was an acronym for “Digital Real Electronic,” with the X representing “modernity and connectivity.”