Brazil central bank to launch its digital currency in 2024

FILE PHOTO: People walk in front the Central Bank headquarters building in Brasilia, Brazil March 22, 2022. REUTERS/Adriano Machado

BRASILIA (Reuters) - Brazil's central bank aims to launch its digital currency in 2024 after a closed pilot program next year with financial institutions, bank president Roberto Campos Neto said on Tuesday, adding that the project had received international attention.

Speaking at an event hosted by the news website Poder 360, Campos Neto said the design of the central bank's digital currency would encourage banks to tokenize their assets, with considerable efficiency gains.