Portuguese 
English 
Spanish 
3 min of reading 
0 comments 
BIS Survey: 91% Of Central Banks Advance On CBDC; Drex Will Be Centralized In 2026, While Digital Euro Tests Retail With Limits And No Interest
Digital currencies issued by central banks, known as CBDCs, are rapidly advancing worldwide. According to a BIS survey, the “bank of central banks,” 91% of monetary authorities are already studying or developing these currencies. The main justification is to preserve control of money by central banks, in a scenario where cryptocurrencies and private payment methods are growing.
In Brazil, Drex will be launched in 2026 as a wholesale digital currency, fully centralized and without the use of blockchain. In Europe, the Digital Euro is moving towards retail, but with strict rules that limit its reach. In the United States, political debate has stalled any potential for adoption in the short term.
What Are CBDCs and Why Are They Gaining Popularity
CBDCs are digital versions of official money, issued directly by central banks. There are two main models: retail, aimed at citizens and businesses for everyday transactions, and wholesale, used only between financial institutions for settlement of operations.
-
Brazilian city gains industrial hub for 85 companies that is equivalent to 55 football fields.
-
Peugeot and Citroën factory in Argentina cuts production by half and opens a layoff program for more than 2,000 employees after Brazil drastically reduced purchases of Argentine vehicles.
-
A Brazilian city gains a factory worth R$ 300 million with the capacity to process 200 thousand tons of wheat per year, a mill of 660 tons/day, silos for 42 thousand tons, and an industrial area of 276 thousand m².
-
Havan will leave the shopping mall in Blumenau to inaugurate something that the chain has never done before: a megastore in half-timbered style in the Historic Center of the city, which is expected to be completed in May and change the landscape of local retail.
According to the BIS survey, emerging countries show greater interest in the retail model, while advanced economies prefer the wholesale model. The central motivation is to ensure that official money remains relevant even in the face of new financial technologies, such as cryptocurrencies and private stablecoins.
Drex In Brazil: Centralized And Without Blockchain
The Central Bank confirmed that Drex, the digital version of the real, will be aimed at wholesale and will start operating in 2026. The decision was to abandon tests with blockchain (DLT) and adopt a fully centralized system.
In practice, this means that Drex will not be used directly by the average citizen. It will function as infrastructure for banks and financial institutions, serving for operations such as credit settlement and the use of digital assets as collateral. Thus, Drex reinforces control of money by central banks, but without altering the immediate routine of the population.
Digital Euro: Money With Usage Limits
In Europe, the European Central Bank is moving in the opposite direction to Brazil. The Digital Euro will have a retail version, but with restrictions to prevent deposit flight from private banks. Among the measures are: balance limits for each person, absence of remuneration (no interest), and an automatic mechanism that transfers excess amounts to traditional bank accounts.
With this, the Digital Euro will function almost like an instant payment system managed by the ECB, but without completely replacing the role of commercial banks. This limitation shows the authorities’ care in maintaining the balance of the financial system.
US Rejects Retail CBDC
In the United States, resistance is clear. The Federal Reserve has already indicated that it does not intend to launch a retail CBDC, and political leaders such as Donald Trump criticize the idea, citing risks of surveillance and loss of privacy. Some states have even passed laws that prohibit the use of digital currencies issued by the government.
In this context, experts like Fernando Ulrich argue that the retail model could be used as a social control tool disguised as convenience, while the wholesale model, like Drex, has a lesser impact on the daily lives of the population.
CBDCs are the next big step for the global financial system. Control of money by central banks is at the heart of this transformation, but the models vary between countries: Brazil bet on a centralized wholesale Drex, Europe is experimenting with a limited retail Digital Euro, and the US remains resistant.
What do you think? Are central bank digital currencies an inevitable technological advancement or do they pose a risk of surveillance and loss of financial freedom? Share your thoughts in the comments; we want to hear from those who live this in practice.
-
Uma pessoa reagiu a isso.