Brazil Central Bank Plans to Launch a CBDC in 2024

The Central Bank of Brazil plans to introduce a central bank digital currency (CBDC) by 2024, bank President Roberto Campos Neto said at a conference hosted by Brazilian news site Poder360 on Tuesday.

The bank will conduct a pilot program working with some financial institutions before starting wider use of the CBDC, a digital currency issued by a central bank, Campos Neto said.

"I think that this digitized, paid-in, integrated system, with inclusion, will help a lot in the development and inclusion of people in the financial world," Campos Neto said.