Last week Banco Central do Brasil announced its selection for its 2022 LIFT Lab that explores innovation. One of the eight projects chosen by the central bank is a DeFi initiative from Itaú, Latin America’s largest bank. The project will have liquidity pools of currencies such as the Brazilian real, U.S. dollar and others, enabling foreign exchange (FX).
The currencies will be tokenized, ’emulating’ stablecoins. The DeFi FX project is part of a broader platform for custody and alternative investments.
At least four of the eight LIFT Lab projects are blockchain related. The other three are:
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