Mercado Bitcoin partners with Stellar to create MVP for Brazilian CBDC
Brazilian exchange Mercado Bitcoin announced its partnership with the Stellar Development Foundation (SDF) on Tuesday. The company said it intends to develop one of the nine projects selected for the LIFT Challenge Real Digital, promoted by the Central Bank of Brazil.
The LIFT Challenge Real Digital are a collaborative environment carried out by the Central Bank of Brazil (Bacen), in partnership with National Federation of Associations of Central Bank Servers (Fenasbac). With the announcement of Stellar's integration, SDF will join the consortium created by Mercado Bitcoin to develop solutions for Real Digital and which also has CPQD and ClearSale.
CEO of Stellar Development Denelle Dixon said that Stellar’s network is prepared to support Mercado Bitcoin and the Central Bank of Brazil as they explore use cases for the Real Digital’s future. “Stellar was designed for asset issuance, and its built-in compliance tools give Mercado Bitcoin a strong foundation to develop a solution with the features that Bacen expects to see,” she claimed.
According to the statement, Mercado Bitcoin selected the Stellar network due to the speed, efficiency and security of the protocol.
"We are in a consortium of companies that have the structure and ambition to build robust solutions for the financial market through blockchain technology. Utilizing the Stellar network will allow us to deliver a complete case for evaluation by the Central Bank," said Reinaldo Rabelo, CEO of Mercado Bitcoin.
In addition to the consortium created by Mercado Bitcoin, the Central Bank of Brazil also chose the DeFi Aave protocol and ConsenSys in partnership with Visa and Microsoft to develop use cases for the nation's Real Digital.
In April, Cointelegraph reported that
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