Recent reports from local media have highlighted that a number of prominent companies, such as Microsoft and EY, have scaled back their involvement in developing drex-related solutions. The decision to reduce the workforce dedicated to these projects has been attributed to the lack of support from the central bank for such initiatives during the second phase of the Central Bank Digital Currency (CBDC) pilot program in Brazil.
The Brazilian CBDC pilot, known as Drex, has encountered setbacks as a result of the withdrawals by these companies following resource cutbacks. Drex, short for Digital Real Exchange, is a key component of the country's ambitious plans to explore the potential of a digital currency. The aim of the CBDC pilot is to assess the feasibility and implications of introducing a
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