DREX (Real Digital)

The new name will encompass the entire project that the Central Bank has been developing, which has been in the testing phase since March. The first simulated operations with Drex are scheduled for September.

Through Drex, formerly known as the Digital Real, the Central Bank aims to expand business possibilities and promote financial inclusion by encouraging a digital economy.

In fact, the Drex will have the function of being the electronic version of the notes that the Central Bank already issues. The guidelines and principles that guarantee the stability of the national currency will remain intact, thus allowing financial activities such as transactions, transfers and payments to be carried out using the platform under development for the circulation of Drex.

According to the Central Bank, each letter of the digital real symbolizes a characteristic of the technology.

- The "D" denotes the digital aspect;

- The "R" is associated with the real currency;

- The "E" represents the electronic component;

- While the "X" suggests modernity, connection and also repeats the last letter of Pix, an instant transfer system introduced in 2020.

"Drex is not a cryptocurrency. It will only utilize blockchain technology."

n the financial market, cryptocurrencies are generally treated as an asset, an investment. However, with the Digital Real being effectively established as a national currency, citizens will be able to engage in any kind of purchase or financial transaction, which is not the case with cryptocurrencies due to legal constraints, as they are not considered legal tender.

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