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Digital Currency of the Central Bank Begins in 2026: Project Swaps Blockchain for Guarantee System, Targets Banks First and Delays Retail Use, Officials Say.
The digital currency of the Central Bank now has a debut date: 2026. However, contrary to the expectations created since 2020, Drex will not initially be a currency available to the general public. According to entrepreneur and author Thiago Nigro, the project will undergo a shift: the initial phase will focus on the back end of the banking system, prioritizing guarantee reconciliation in credit operations, rather than a “digital wallet” on citizens’ phones.
This decision marks an important repositioning. Instead of debuting as “programmable money” in retail, Drex will function as infrastructure for banks and large institutions, with the aim of reducing fraud and default.
The final consumer, for now, will not feel direct changes.
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What Is the Digital Currency of the Central Bank
Drex is the Brazilian version of a central bank digital currency (CBDC).
This type of currency exists in two main models: direct, where each person would have an account with the monetary authority, and intermediated, where banks and fintechs continue serving the public, but the records are maintained by the Central Bank.
Brazil chose the second path.
The president of the Central Bank, Gabriel Galípolo, has already stated that Drex will not be aimed at retail.
The pilot coordinator, Fábio Araújo, explained that the priority for 2026 will be abandoning blockchain and tokenization and focusing on a centralized registration system for encumbrances, allowing different institutions to check in real time if an asset is already pledged as collateral in another operation.
Why the Change of Course
Since 2020, when it was still called “digital real,” the project has had its ups and downs. The initial idea was to explore blockchain and tokenization resources to create “programmable money”.
Now, however, the Central Bank understands that the most urgent task is to solve problems in the traditional financial system, such as the lack of transparency in the use of guarantees.
This change brings technical benefits: banks will be able to instantly verify whether a property or vehicle has already been pledged as collateral in another contract.
This reduces fraud, increases legal security, and can improve credit efficiency. Ordinary citizens, however, will not have direct access to Drex in this phase.
International Comparison
Brazil is not the only country exploring official digital currencies. China launched the digital yuan in 2020; Nigeria created the eNaira in 2021; and the Bahamas implemented the Sand Dollar.
In many cases, adoption has been low, and experts have raised concerns about privacy and state control.
In the United States, the debate over a “digital dollar” has generated political resistance.
Critics claim that a CBDC could threaten individual freedom and give the government excessive power over the use of money. In Brazil, for now, this risk does not apply, as the model is wholesale and not retail.
Drex Does Not Replace Pix
A recurring question is whether Drex will replace Pix. The answer is no. Pix will continue to be the instant payment method for individuals, while Drex, in 2026, will operate as an infrastructure layer for the financial system.
They are complementary proposals, not competitors.
The use in retail with features such as programmable money, balance validity, or specific spending rules has been postponed and is not part of the project’s first phase.
The debut of the digital currency of the Central Bank in 2026 will be restricted to banking backends, focusing on guarantee records.
The average consumer will not have a new digital wallet on their phone, but may indirectly benefit from a more secure credit system.
The debate on privacy and freedom, however, remains relevant should the project advance to retail in the future.
And you, do you think the digital currency of the Central Bank should already be available to the general public, or is the focus on banks the right path?
Leave your opinion in the comments.
Isso e só para países **** para controlar o dinheiro do povo
Público geral não, mas as pessoas em aplicações via Banco do Brasil ou Caixa Econômica Federal.
Acho que o Brasil pode virar uma Venezuela