Queen of the Netherlands visits Brazil to learn about Pix and Open Finance

Queen Máxima of the Netherlands visits the Central Bank of Brazil this week.

The monarch serves as Special Advisor to the United Nations Secretary-General for Inclusive Financing for Development (UNSGSA).

The visit aims to learn about initiatives promoting financial inclusion, such as Learning Value, Pix, and Open Finance.

During the visit, the Queen is also expected to get information about the Digital Real since the digital version of the national currency is part of the BC agenda, which aims to promote, among other things, financial inclusion through the digitalization of the national economic system.

According to the Central Bank, the working agenda with the Queen will start at 8 am next Wednesday, 7, with a meeting with students and teachers of the Class School of 312 North Brasília.

She will be accompanied by the president of the autarchy, Roberto Campos Neto, and the director of Relationship, Citizenship, and Conduct Supervision, Maurício Moura.

During the visit, Queen Máxima will hear testimonials about Aprender Valor, a financial education program developed by the Central Bank that is being applied in the educational unit of the Federal District.

Next, the monarch will have meetings at the Central Bank headquarters in Brasília.

She will be received in a private meeting by the president of the Central Bank and will participate in a meeting with the bank’s directors.

Already this Monday, 5, and next Tuesday, 6, Central Bank technicians will participate in a series of meetings that Queen Máxima will hold with representatives of the private and public sectors in São Paulo to discuss issues related to financial inclusion to increase economic development in countries.

WHEN WILL THE DIGITAL REAL BE LAUNCHED?

The Central Bank’s latest projection is that Digital Real will be launched to the population by the end of 2024.

The pilot test phase is expected to finish between the end of 2023 and the first half of next year.

Digital Real is currently in the second phase of its development project, with a pilot test applied to a practical use case.

The main use of Digital Real is expected to be in the area of programmability for financial transactions, especially those carried out by large market players and involving larger amounts of money.

Another important element in using the Digital Real is the so-called tokenization of assets – including financial and physical assets in blockchain networks, seeking to facilitate their registration and negotiation.

In April, the Central Bank also held an event in which participants in the first phase of the development of the Digital Real presented possible use cases for the CBDC that have been studied.

Among the applications are international remittance exchanges, real estate, and car purchases, and access to credit.

With information from Exame

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