Mercado Bitcoin partners with Stellar to create MVP for Brazilian CBDC
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Cryptocurrency companies unite to create use cases for Brazil’s CBDC with central bank approval.
Brazilian exchange Mercado Bitcoin announced its partnership with the Stellar Development Foundation (SDF) on Tuesday. The company said it intends to develop one of the nine projects selected for the LIFT Challenge Real Digital, promoted by the Central Bank of Brazil.
The LIFT Challenge Real Digital is a collaborative environment carried out by the Central Bank of Brazil (Bacen), in partnership with the National Federation of Associations of Central Bank Servers (Fenasbac). With the announcement of Stellar's integration, SDF will join the consortium created by Mercado Bitcoin to develop solutions for Real Digital and which also has CPQD and ClearSale.
CEO of Stellar Development Denelle Dixon said that Stellar’s network is prepared to support Mercado Bitcoin and the Central Bank of Brazil as they explore use cases for the Real Digital’s future. “Stellar was designed for asset issuance, and its built-in compliance tools give Mercado Bitcoin a strong foundation to develop a solution with the features that Bacen expects to see,” she claimed.
According to the statement, Mercado Bitcoin selected the Stellar network due to the speed, efficiency and security of the protocol.
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