Bexs Bexs
  • Bexs Pay
    • All Solutions
    • Payin

      Local Payment Processing in Brazil

    • Payout

      Cross-border payouts to Brazil with Pix

    • FX API

      FX platform for Marketplaces and PSPs

    • Integration types

      Direct API, Embedded Checkout and Payment Link

  • Bexs FX
    FX Services
  • About us
  • Careers
  • Blog
  • Versão em Inglês English
    Versão em Português Português
Home >  international • Payments   Digital Real: the Brazilian digital currency is coming

Home » Blog » Digital Real: the Brazilian digital currency is coming

Digital Real: the Brazilian digital currency is coming

08/07/2021

Check out what is already known about Digital Real and the possible impacts of digital currency in Brazil

 

real digital

Digital coins are the new bet for payments around the world. The Central Bank of Brazil continues to seek ways to modernize and increase the efficiency of the Brazilian payment system, as provided for in AgendaBC#. The latest news released by the agency is Digital Real, which still has no date set to go into circulation. It is estimated that the Brazilian digital currency will be valid from 2024. However, the guidelines for the development of the digital-format real have already been established.  

 

In this article, you will find out about what is already known about Digital Real and how it should be integrated into a financial system at full blast in terms of technological evolution.

 

Digital Real: a new format for the same currency

 

The Real, as we know it today, became Brazil’s official currency in July 1994. Even with the proposal of the Brazilian digital currency, which appears 27 years after the beginning of its circulation, it is important to emphasize that the paper bills and metal coins we have used since then will not lose effectiveness. In other words: it will not be a replacement, but a new alternative.

 

The consumer who has an amount in Digital Real can use it for purchases or save it in accounts. In both cases, Brazilian digital currency will have exactly the same value as physical money. In other words, having a BRL 50 bill in hand is equivalent to having BRL 50 in the virtual wallet, since the project provides that the digital currency will not have compensation. As far as we know to date, even if the digital currency distribution model is the same as physical currency, with financial institutions making the connection between the Central Bank and the end user, keeping Digital Real in an account will not yield any kind of interest. 

 

It is also planned that Digital Real can be traded offline. Without relying on an internet connection, the Brazilian digital currency has even greater chances of becoming popular in all corners of the country.

 

According to The Global Payments Report, physical money will be the least used traditional payment method in the world in about 4 years. In Brazil, bills were only used in 35% of financial transactions last year. These data provide a good hint for current consumer behavior and needs. Digital Real would be a kind of promoter of new business models.

 

Brazilian digital currency: a new cryptocurrency?

 

Despite having in common the fact that they are virtual, Digital Real and cryptocurrencies, like Bitcoin, are not the same. The main difference lies in the role of the Central Bank of Brazil, which will be responsible for issuing and regulating the digital version of the real. It is the one that guarantees the legal certainty of the transactions involving it.

 

The BCB made it clear in the guidelines for the creation of digital currency that the General Data Protection Law (LGPD) and bank secrecy will be taken into account for its operation. Above all, the goal is to ensure that this form of payment is not used in illegal activities and that it is possible to track suspicious transactions if the court requests it.

 

The Digital Real fits the description of the CBDC (Central Bank Digital Currency or Digital Currency Issued by the Central Bank), since it is part of the monetary policy of the country that issues it. 

 

CBDC and cryptocurrency: understanding the differences

 

In the case of cryptocurrencies, issuance and distribution are decentralized. There is no institution or monetary authority that regulates them. In Brazil, some companies in the industry follow the Self-Regulation Code created by the Brazilian Cryptocurrency Association (ABCripto). However, this is not mandatory. Despite this, the possession and trading of cryptocurrencies in the country is allowed.

 

In addition, cryptocurrencies are not even recognized as currencies by the Central Bank of Brazil. Such body prefers to use the term crypto assets, as their features are more similar to financial assets than to a medium of exchange. On the contrary, a CBDC can be used for any type of payment, for transfers between people etc. CBDC Brazil will also be able to be negotiated with Central Banks from other countries. However, exchange guidelines have not yet been defined. It is not yet known whether the value of the physical real and the digital one will be the same in this transaction.

 

Digital currencies in the world

 

The creation of digital currency in Brazil shows how the country is committed to being at the forefront of possibilities, such as integration with IoT (Internet of Things), for example. There are few countries that have paid attention to this future so far.

 

The first country to issue CBDCs was Bahamas. Officially launched to citizens of the country in October 2020, Sand Dollar took a few months to complete integration with the commercial banking system. Its value is pegged to the Bahamian dollar, which in turn is pegged to the US dollar. Currently, there is even a prepaid card for Sand Dollar, created in partnership with Mastercard and Island Pay, a digital payment startup licensed by the country’s Central Bank.

 

China began testing its digital currency last year. Digital Yuan has been tested in some cities and traditional events, such as the Dragon Boat Festival. Implemented on a blockchain, digital currency is used by companies to pay employees. Its third and final testing phase will verify its effectiveness at international levels.

 

The move of such Asian power pushed the US dollar in the same direction. The US government is also studying the topic and plans to run tests until May 2022, launching 5 pilots. With the DDP – Digital Dollar Project, the country hopes not to lose space to China in the international exchange.

 

Digital Real and the future of payments: count on Bexs

 

The arrival of digital currencies on the market will change the way consumers pay for their purchases. Therefore, if you want to reach the public of a country that has this new currency on its radar, like Brazil, you need to be aware of these trends, anticipating them. Bexs has a team of PayIn and PayOut specialists always ready to point out the best and most innovative solutions in international payments. Keep following our contents or contact us to receive customized service.

Last News

Read more

Payment gateway vs psp: 3 reasons to choose a PSP

17/06/2022

Are you split between a Payment Service Provider or payment gateway for your online business? Here are 3 characteristics making […]

Read more

Live commerce: one of the most recent e-commerce trends in Brazil

28/04/2022

Find out what live commerce is, how it can boost your local or cross-border e-commerce business and what you need […]

Read more

Contactless payments: how they work

14/04/2022

While NFC contactless payments have been widely adopted by physical retailers, QR Code payments are a local and cross-border e-commerce […]

Read more

Brazilian e-commerce performance in 2021

01/04/2022

Cross-border expansion, online mobile sales, the most successful categories and more: check out the insights and numbers for Brazilian e-commerce. […]

Read more

Chargebacks: what they are and how to avoid payment reversals

29/03/2022

Learn about chargebacks, how they can impact your e-commerce business and how to minimize payment reversals.     The overall […]

Read more

Online payment fraud: the most common types of fraud and how to avoid them

23/02/2022

Find out how to increase data security using antifraud solutions for online payments.     Trust is a critical factor […]

Read more

Brazil’s Open Banking and the impact on payments

16/02/2022

Discover new online payment options and check out the data on Brazil’s Open Banking     The last of Brazil’s […]

Read more

Buy now pay later: solution to buy online in installments

16/12/2021

Credit in purchases, which have been very popular in Brazil for quite a while, are also a recent trend in […]

Read more

Foreign exchange regulation: a new regulatory framework in Brazil

25/11/2021

Check out the latest news about the new foreign exchange regulation and understand how access to international transfers has become […]

Read more

Payment Service Provider or PSP: what to consider when choosing one

12/11/2021

Find out what a payment service provider can do for your business and what to consider when choosing a solution […]

Read more

PCI or PCI DSS Compliance: What It Is, Its Requirements and Benefits

28/10/2021

Discover what PCI Compliance/DSS is and why is it important for e-commerce.     PCI Compliance, PCI DSS or Payment […]

Read more

Social commerce: how to sell on social media

23/09/2021

Find out what social commerce is and how this channel can help your business grow.     After social isolation […]

Read more

Black Friday in Brazil: how to prepare yourself to sell more on this date

03/09/2021

Check out some data from the last Black Friday in Brazil and insights to boost sales for this market.   […]

Read more

Payment link: the advantages of this feature

20/08/2021

Check out some reasons to adopt payment links when billing products or services     The e-commerce market is the […]

Read more

Payment API: what it is and how it works

05/08/2021

A payment API facilitates your company’s routine and benefits customers with a wide range of payment methods. Know more!   […]

Read more

WhatsApp Pay: new payment method arrives in Brazil

22/07/2021

See how the money transfer through message application works and WhatsApp Pay impact on Brazilian payments.     Since May […]

Read more

Online shopping: what’s in Brazilians’ cart

24/06/2021

Find out which niches are most sought after by Brazilians in online shopping and which are the most sold products […]

Read more

Recurring or installment payment?

10/06/2021

Find out the difference between recurring and installment payments and which of these payment methods is right for your business. […]

Read more

Cart abandonment: 4 ways to avoid it

27/05/2021

Do your e-commerce customers back out when it’s time to pay? Understand how to get around that behavior.     […]

Read more

The evolution of Cross-Border and international tracking

21/05/2021

The cross-border e-commerce expansion also involves reducing delivery times. Learn how important it is to track your purchases to avoid […]

Read more

Pix for business: 3 reasons to accept this form of payment

14/05/2021

Find out how receiving money through Pix can be beneficial for your business

Read more

The Open Banking revolution in Brazil

05/04/2021

A summary about the news and the possibilities of transformation of the Brazilian Financial System.

Read more

The Chinese new year and the Brazil and China relationship

11/02/2021

Welcome to the Chinese new year 4719, ruled by ox and the metal element. Understand more about this date and […]

Read more

Beyond companies: shopping from China increases among individuals

02/02/2021

Even with the pandemic and the exchange rate fluctuation, online shopping from China is a growing trend that will continue […]

Read more

Payment Gateway or PSP: the differences between these technologies

01/02/2021

We explain payment gateways and payment providers (PSPs) to help you choose the best e-commerce option.       Payment […]

Read more

Reasons to invest in Latin America in 2021

11/01/2021

Record digitization and a thriving innovation ecosystem. Understand the reasons for placing the region, and especially Brazil, in your expansion […]

Read more

Why do companies and people in Brazil consume ever more international (Saas) software?

07/01/2021

The already growing demand increased with the pandemic, but the bottlenecks in payments for software impact the daily life of […]

Read more

Pix: everything you need to know about this payment method

02/11/2020

Understand what pix is, how it came up and what is its impact in the future Brazilian payment market. 

Read more

Double Eleven: Want to know more about the biggest retail date in the world?

21/10/2020

Double Eleven is celebrated in China, breaking sales records every year, and is now consolidating expansion to Brazil.

Read more

Doors open to study abroad

18/09/2020

Partnership between Bexs and PayMyTuition optimizes payments for foreign courses, expanding access for Brazilians.

Read more

10 years of Black Friday in Brazil

25/08/2020

Learn more about this trend from the United States that has become one of the biggest shopping dates in Brazil, […]

Read more

Payment solution facilitates access by Brazilians to SimilarWeb SaaS

18/08/2020

The partnership between the company and Bexs Bank demonstrates the importance of adapting to the market with growing demand for […]

Read more

The disruptive in global education during the pandemic

31/07/2020

How the coronavirus outbreak has accelerated the digital revolution in education globally and the barriers to consolidating this learning tool.

Read more

Brazil’s e-commerce sales continue to post double-digit growth

01/07/2020

See the latest Webshoppers 41 figures from eBit|Nielsen, which is the largest survey of online sales in Brazil.

Read more

Bexs Bank on The Paypers – Voice of the Industry

24/06/2020

Our CEO, Luiz Henrique Didier Jr., presented on The Paypers some articles about payment industry and solutions, on the particularities […]

Read more

The accessibility of consumption to unbanked consumers

27/05/2020

The number of unbanked people has created trends and solutions that break down barriers to their inclusion with regard to […]

Read more

Consolidation of SaaS in the daily routine of companies

30/04/2020

Bexs Bank brings insights about this segment that transformed cultures around the world, posts double-digit annual growth and shows highly […]

Read more

Bottlenecks faced by companies in buying international software (SaaS)

29/04/2020

The barriers in companies for transactions involving forex hinder internal processes and the productivity of areas.

Read more

Why do Brazilians love installments?

11/09/2019

Learn more about installments, an unique method commonly adopted by Brazilians to purchase a wide range of goods and services.

Read more

The rise of subscription economy

10/09/2019

Learn more about the subscription business model that is changing consumption patterns and remaking the economy.

Read more

Payment Journey through APIs

08/08/2019

Learn more about the importance of APIs to international business strategies and cross-border payment processing.

Read more

How Chinese merchants are selling in Brazil?

25/06/2019

Brazilians are gaining more access to various products from Chinese online merchants thanks to easier payment and delivery process.

Read more

What is a bank slip or boleto?

24/06/2019

Bank slip is a payment method that is part of the daily life of millions of Brazilians. Find out all […]

Read more

Brazilian e-shoppers seek out international products

25/05/2019

Brazilian consumers are increasingly engaged in buying various products at competitive prices from international websites, despite the logistics and customs […]

Read more

How large is the Brazilian e-commerce market?

05/11/2018

The e-commerce market in Brazil is huge, but companies aiming to operate in the country must understand peculiarities regarding buying […]

Read more

Brazil’s payment world

04/11/2018

In the world of payments, each country has its particularities. Brazil is no exception.

Bank Bexs Bank Bexs

Bexs Pay

  • All Solutions
  • Payin
  • Payout
  • FX API
  • Integration types
  • Bexs Pay
    • All Solutions
    • Payin
    • Payout
    • FX API
    • Integration types

Bexs FX

  • FX Services
  • Bexs FX
    • FX Services

Institutional

  • About Bexs
  • Social Bexs
  • API Developers
  • Policy ML/FT
  • Privacy and Data Policy
  • Code of Ethics
  • Blog
  • Institutional
    • About Bexs
    • Social Bexs
    • API Developers
    • Policy ML/FT
    • Privacy and Data Policy
    • Code of Ethics
    • Blog

Contact Bexs

  • Contact Us
  • FAQ
  • Ombudsman
  • Contact Bexs
    • Contact Us
    • FAQ
    • Ombudsman

Business Call | +55 (11) 2712-5300

Customer Services | 0300 777-2397

  • Versão em English English
    • Versão em Português Português

Condomínio Edifício Brasilinterpart
Av. das Nações Unidas, 11633 - Brooklin Paulista, São Paulo/SP CEP 04578-901

Copyright © 2021 Bexs Banco de Câmbio S/A. CNPJ: 13.059.145/0001-00