Portuguese 
English 
Spanish 
5 min of reading 
6 comments 
The Central Bank Confirmed That Drex Will Be Launched in 2026 and Rekindled Discussions About Financial Freedom and State Control. Thiago Nigro, From the Channel O Primo Rico, Explained in Detail How the Digital Currency Should Work and What Risks It May Bring
The Central Bank Officially Announced That Drex, the Brazilian Digital Currency, Will Be Launched in 2026. The Project, Which Started Being Developed A Few Years Ago and Went Through Several Changes, Is Seen as a Profound Transformation in the Way Brazilians Handle Money.
The Topic Divides Opinions Because It Raises Questions About Privacy, Freedom, and the Role of the State in the Financial System.
The Information Gathered in This Article Is Based on an Analysis Published by Financial Influencer Thiago Nigro, From the Channel O Primo Rico on YouTube. In His Video, He Details the Functioning of Drex.
-
Small city in the Brazilian Midwest becomes the target of a R$ 23 billion megafactory, construction reaches nearly 60 percent and could create the largest single line in the world during construction with a peak of 14,000 workers.
-
Suspension of INSS payroll loans freezes a R$100 billion market and puts banks, fintechs, and retirees on alert
-
Venezuela and Cuba defaulted on almost US$2 billion owed to Brazil for projects paid for with BNDES funds, and the Brazilian taxpayer is still covering the loss today. The government admits it has no prospect of receiving the money back, and specialists say that this money is lost.
-
Brazil will make an economic leap and become a world power, says IMF, and the country becomes an ‘oasis’ for investors with oil +30%, R$ 64 billion in foreign investments on B3, and the real leading global rise in 2026.
What Is Drex
Drex Is a CBDC (Central Bank Digital Currency), or Central Bank Digital Currency.
It Is an Official and Digital Version of a Country’s Currency, Issued and Controlled Directly by the Monetary Authority.
In Practice, This Means That All Transactions Go Through the Central Bank, Which Has the Ability to Supervise and Record Financial Movements in Real Time.
Today, Citizens Maintain Their Accounts in Retail Banks, Such as Itaú, Bradesco, or Santander, While the Central Bank Acts as Regulator.
With Drex, the Government Would Become the Direct Issuer and Manager of the Digital Currency, Without Relying on Traditional Banks as Intermediaries.
CBDC Models
There Are Two Main CBDC Models. The First Is the Direct Model, in Which Each Person Would Have an Account at the Central Bank.
In This Format, Retail Banks Lose Relevance Because They No Longer Hold Deposits, Reducing Their Ability to Offer Credit.
This Model Was Already Adopted by China in 2020 with the Digital Yuan, Which Operates in Parity with the Physical Currency and Reduces the Space for Private Banks.
The Second Format Is the Intermediated Model, in Which the Central Bank Remains the Issuer, but Private Banks Continue to Exist as Interfaces for Customers.
Thus, They Maintain Their Role of Offering Credit and Financial Services, Although Under a New Structure.
Where Drex Fits In
Brazil Is Expected to Follow the Intermediated Model, Also Called Wholesale.
In This Case, Drex Will Not Be Intended for Everyday Use by Individuals or Small Businesses, but Will Function as a Backend Tool for Large Financial Institutions.
This Reduces Risks of Direct Control Over Citizens’ Money, at Least in the Initial Phase of the Project.
This Choice Also Addresses Concerns About Individual Freedom. The Direct Retail Model Could Allow the Government to Easily Track and Block Resources.
On the Other Hand, the Intermediated Model Maintains a Barrier Between Citizen and State, Preserving Some Level of Financial Autonomy.
International Examples
The Adoption of Digital Currencies by Central Banks Has Occurred in Other Countries, with Different Results. Nigeria Launched the eNaira in 2021.
Studies Indicated That the Currency Raised Privacy Concerns Because the Government Started to Centrally Monitor Transactions. Public Rejection Was High, and Use Remains Limited.
In the Bahamas, the Government Created the Sand Dollar but Faced Similar Difficulties.
As the Population Did Not Spontaneously Adopt It, Banks Were Forced to Distribute the Currency.
These Examples Reinforce the Distrust That, in Some Contexts, CBDCs End Up Centralizing Power in the Hands of the Government and Reducing Citizens’ Freedom of Choice.
Changes in the Brazilian Project
Drex Has Undergone Several Changes Since Its Conception in 2020. Initially Called Digital Real, It Confused Part of the Population, Who Believed in the End of Physical Currency.
The Name Was Changed to Avoid Misunderstandings. Furthermore, the Project Already Envisioned the Use of Blockchain, Technology That Ensures Decentralization and Transparency, but This Idea Was Abandoned.
According to Fábio Araújo, Coordinator of the Pilot Project, the Central Bank Decided to Prioritize a Credit Guarantee Reconciliation Solution.
In Practice, This Will Allow Banks to Verify if the Same Asset Is Already Committed in Other Loans. This Avoids Situations Where, for Example, a Car Is Offered as Collateral in More Than One Operation at the Same Time.
In This New Configuration, Drex Ceases to Be a Currency for Direct Use by the Population and Becomes a Tool to Reduce Fraud and Increase the Security of the Credit System.
The Impact on Daily Life
For the Average Citizen, Drex, at Least in Its Initial Phase, Will Be Practically Invisible.
It Will Function as a Backend Tool for Banks and Financial Institutions, Without Replacing Physical Currency or Tools Like Pix.
Pix, Created to Facilitate Instant Transfers, Continues to Operate Independently and Will Not Be Replaced by Drex.
Despite This, Experts Raise Doubts About the Future. If the Government Decides to Move to a Retail Model in the Future, Risks of Centralization Will Increase.
In This Scenario, It Would Be Possible to Limit Spending, Block Resources, or Even Impose Expiration Dates on Digital Money.
The Question of Freedom
The Great Debate Surrounding CBDCs Revolves Around the Balance Between Efficiency and Freedom.
While the Intermediated Model Is Viewed as a Safer Solution, the Possibility of Changing to a Direct Format Raises Concerns.
International Experience Shows That Governments Can Use Digital Currencies as Instruments of Control.
In Practice, Such a System Could Allow Blocking Accounts of Individuals Involved in Protests, Restrictions on Donations, or Consumption Limits in Certain Sectors.
Although Drex Currently Does Not Envision This, the Technology Opens Space for Such Applications in the Future.
Bitcoin, for Example, Operates Decentralized and Independently of the Government. As Long as the User Maintains the Keys to Their Wallet, There Is No Way for the State to Block or Manipulate Their Balances.
Another Option Is Stablecoins, Such as USDT, That Are Pegged to the Dollar and Offer More Price Stability.
Additionally, Keeping Resources in Financial Institutions Abroad May Be an Alternative, Although It Requires Technical Knowledge and Specialized Consulting.
Open Future
Despite the Official Announcement of Launch in 2026, Drex Is Still a Project in Transformation.
Recent Changes, Such as the Removal of Blockchain, Show That the Proposal May Be Adjusted According to the Interests of the Central Bank and the Government.
Meanwhile, the Public Debate Remains Divided. On One Side, Advocates View Drex as a Tool to Modernize the Financial System and Reduce Fraud Risks.
On the Other Hand, Critics Warn About the Dangers of Centralization and Possible Financial Freedom Loss.
Drex Is Not an Evolution of Pix, Nor an Immediate Replacement for Physical Currency.
It Is Born as a Backend Tool, Focused on Large Financial Operations, but Carries with It a Transformation Potential That Concerns Part of Society.
Eu só vejo alerta perigo cuidado grande armação
Isso e uma hipocrisia cada vez mais tentando controlar nois , agora querem controla o que nois fazemos com nosso dinheiro cadê o live abrito não tem mais somos robos controlados por ele onde isso vai parar
Kkkkkkkk, eu estou **** pra isso, quem é limpo não tem nada a temer. Só **** devem ter medo do controle oficial. Quem tem que se preocupar são políticos corruptos que movimentam 40 milhões por ano, tipo a família Bolsonaro.
Se o atual desgoverno acha bom. Tenho certeza que não presta. Se fosse bom, já seria sucesso na Europa, EUA etc.
O pix nem se quer existe na Europa, e tenho certeza que você gosta do Pix, mas por quê não tem na Europa e nem EUA?
Esse presidente **** não tem nada a ver com essa tecnologia financeira. Pesquise mais.
O pix não tem controle do banco central, acorda ****.