Highlights:
In March, Banco Central do Brasil unveiled nine participants in its Real Digital Lift Challenge, a central bank digital currency (CBDC) trial. One of the projects focuses on directed farm lending.
Initially, the lending will be in tokenized commercial bank money, which could later switch to have the tokens backed by CBDC. Michael Wagner, a partner at Oliver Wyman, observed that it is important to test the resilience of programmable money in day-to-day applications before launching a CBDC.
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