🇧🇷 Just In: Brazil Ditches Blockchain for Drex CBDC
In a surprise move, Brazil’s Central Bank has abandoned the blockchain component of its Drex digital currency project.
💬 Coordinator Fabio Araujo cited scaling & privacy challenges, shifting focus to collateral management and lien reconciliation — aiming for a mid-2026 launch.
🔍 Drex, once built on Hyperledger Besu, was originally meant to tokenize the nation’s financial system with a two-tiered CBDC structure.
Blockchain could return in the future, but for now, Brazil’s CBDC is going off-chain.
