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In the First Delivery, Drex, Known as Pix 2.0, Will Not Reach the General Public, It Will Be Used Behind the Scenes of the Financial System. The Initial Version Will Come Without Blockchain and Without Tokenization, Prioritizing Security, Supervision, and Efficiency.
The Central Bank redesigned the next step of Drex, nicknamed by part of the press as Pix 2.0. The first delivery, scheduled for 2026, will be for internal use of the financial system, not for the end consumer. The technical design also changes: DLT and tokenization are excluded from this initial phase. According to the BC, the decision prioritizes technological security, supervision, and operational efficiency.
The course adjustment was explained in the week of August 6, 2025, when the president of the BC, Gabriel Galípolo, presented the innovation agenda at an event in Rio. From that point on, specialized and widely circulated media detailed that Drex will leave blockchain for later and focus on a pragmatic backstage solution.
In practice, the consumer will not see changes in the current Pix and will not need a new digital wallet at this stage. The movement aims for efficiency gains in the infrastructure connecting banks, fintechs, and registrars, while reassessing the role of DLT in the long term.
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What Is Drex and Why Was the Project Redesigned
The Drex is the Central Bank’s initiative to modernize the settlement and registration of assets in the country, with future possibilities for smart contracts and integration with Open Finance. Unlike cryptocurrencies, Drex is a regulated infrastructure by the BC. This distinction is reflected in official materials and in recent public presentations by the monetary authority.
After the first phase of pilots, the BC concluded that data privacy, scalability, and governance in distributed arrangements require additional care. International and specialized media reported that these factors influenced the decision to postpone the use of blockchain for now.
The redesign, therefore, aims to deliver value quickly where there is consensus: improving regulatory visibility and the reconciliation of guarantees, while maturing the technological debate for future phases.
What Changes Now: Without Blockchain and Tokenization in the First Delivery
By the new route, the first version of Drex will not use DLT or tokenization. The focus will be on a platform for reconciling encumbrances and guarantees, which helps to check if the same asset has already been linked to another credit, reducing fraud and compliance costs. It is a wholesale solution, aimed at market participants.
This initial phase, reported for 2026, seeks operational efficiency and standardization among institutions, without affecting the day-to-day activities of account holders. The reading is convergent among business and technology outlets.
The Drex will not reach the bank app now. The priority is the back office of the financial system, where the change can lower costs and accelerate credit using well-managed guarantees.
What Will Be Left for Later: Blockchain, DLT, and Consumer Access
The BC did not rule out blockchain/DLT. The assessment is that these technologies may return in subsequent phases, when the requirements for privacy and scalability are well addressed. This is the sense of the “turn” highlighted by international publications.
In the medium term, tokenized assets, smart contracts, and integrations with Open Finance remain on the radar, opening space for products such as fractional investments and faster settlement. These are possibilities already discussed by the ecosystem, but conditioned to future results of the project.
It is important to emphasize: there is no official date for consumer access. What exists today is a widely reported window for 2026, restricted to the banking environment.
Practical Impacts for Banks, Fintechs, and Pix Users
For banks and registrars, the change tends to standardize guarantee data, reduce operational risks, and verification costs, with a direct impact on credit origination. It is a gain of back office efficiency.
For fintechs, the adjustment suggests replanning roadmaps: use cases that do not depend on DLT can advance, while tokenization projects await future definitions. The market is already signaling this separation of paths.
For the Pix user, nothing changes. Pix continues to grow and gain features such as Pix by proximity, installment, and guarantee, according to the evolutionary agenda presented by the BC. Drex does not replace Pix and is not a cryptocurrency.
Schedule and Next Steps of the Central Bank
On August 6, 2025, the BC presented its Innovation Agenda at Blockchain Rio, setting the tone for prioritization and phased delivery. Subsequently, the media detailed that the first version of Drex, in 2026, will be internal, without DLT.
Until then, the monetary authority will continue testing and adjustments inspired by the lessons from phase 1 of the pilot, which had already indicated privacy challenges and the need for intensive monitoring.
What to follow from now on: new communications from the BC, the evolution of the Pix technical agenda, and any public consultations on data standardization and interoperability for the next stage of Drex.
Como se prioriza a segurança, agilidade e confiança sem blockchain e sem token? Sem blockchain, como existe a certeza da não adulteração dos dados, sendo que aqui no nosso país não é o forte das autoridades e do governo a questão da confiança, onde nosso presidente é um ex presidiario sentenciado em todas as instâncias?
Pra ajudar a matéria trazendo umas informações imparciais, aqui temos alguns pontos principais:
1. Confiança e registro
Com blockchain e tokens → a confiança é distribuída: os registros são imutáveis, auditáveis e compartilhados por todos.
Sem blockchain → registros ficam em bases de dados centralizadas, sujeitas a controle, alteração e falhas de um único ponto (o banco, a clearing, ou a autoridade, tudo que o governo quer, poder manipular o histórico de transações ou até mesmo apagar o rastro).
2. Intermediação
Com tokens → ativos podem ser transferidos peer-to-peer (sem precisar de um intermediário para validar e liquidar).
Sem tokens → é necessário um intermediário confiável (como banco ou processadora) para confirmar, validar e transferir valores.
3. Liquidez e fragmentação
Com tokens → ativos digitais podem ser fracionados e movimentados em tempo real globalmente.
Sem tokens → a liquidez depende de horários bancários, fusos horários e regras locais. Transferências internacionais, por exemplo, são lentas e caras.
4. Custos e eficiência
Com blockchain → redução de custos de reconciliação, auditoria e burocracia, já que tudo está num livro-razão único.
Sem blockchain → altos custos de infraestrutura (sistemas duplicados, processos de conciliação, compliance redundante).
5. Inovação e inclusão
Com tokens → abre espaço para DeFi, microtransações, novos modelos de crédito e acesso global sem conta bancária.
Sem tokens → inovação é mais lenta e restrita a grandes instituições; inclusão depende do sistema bancário tradicional.
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Em resumo:
Um sistema financeiro sem blockchain e tokens mantém o modelo tradicional, com centralização, dependência de intermediários e processos mais caros/lentos, mas com maior controle regulatório (que no nosso país não temos a confiança, infelizmente) e previsibilidade.
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