- Stellar Development Foundation (SDF) has partnered with Mercado Bitcoin to explore use cases for a Central Bank Digital Currency (CBDC)
- The Real Digital, according to Bacen, will be operational in the second half of 2022
- Stellar has emerged as one of the most well-known networks for holding and transmitting money around the world.
- Stellar is forging new partnerships with fintech players around the World
The Stellar Development Foundation (SDF) has partnered with Mercado Bitcoin for developing use case for CBDC. Mercado Bitcoin is Latin America’s largest crypto exchange and has been selected to develop one of the nine projects identified for the ‘LIFT Challenge Real Digital’. The program is run by the Central Bank of Brazil (Bacen) in collaboration with the National Federation of Associations of Central Bank Servers (Fenasbac) to explore use cases for a Central Bank Digital Currency (CBDC). SDF now joins CPQD and ClearSale as members of the Mercado Bitcoin LIFT Challenge consortia.
The Real Digital, according to Central Bank of Brazil, will be operational during the second half of 2022. Developed use cases will be trialed for the restricted audiences in the initial phase. The Central Bank of Brazil will use the opportunity to identify and establish the key attributes of the digital infrastructure which will be capable of supporting the use cases. Once successful, digital infrastructure can be developed for wider usage.
Because of its unique combination of speed, efficiency, security, and compliance, Mercado Bitcoin has chosen the Stellar network for CDBC projects. Because of Stellar network key features, it is preferred for stablecoin issuance and financial asset tokenization.
Reinaldo Rabelo, CEO of Mercado Bitcoin said that Mercado Bitcoin forms part of consortium of companies that wants to use the power of Block Chain Technology, for building robust solutions for the financial market. Utilizing the Stellar network, Mercado Bitcoin will be able to deliver a complete case that can be evaluated by the Central Bank.
SDF is a non-profit organization whose mission is to unleash the world’s economic potential by making money more fluid, markets more open, and people more empowered.
Stellar has emerged as one of the most well-known networks for holding and transmitting money around the world. A poll was recently done by the Stellar Development Foundation (SDF) and Wirex, a renowned crypto payments platform based in the United Kingdom. The survey’s findings suggest that cryptocurrencies are becoming increasingly popular for cross-border payments in four main markets: the United States, the United Kingdom, Mexico, and Singapore.
Stellar is forging new partnerships with fintech players around the World. DFS Lab and the Stellar Development Foundation (SDF) have opened a call for applications for their second Blockchain Bootcamp. The partnership will enable African entrepreneurs in building world-class fintech products and applications on the Stellar network.
The Stellar Development Foundation and MoneyGram International recently announced a partnership with Techstars, a worldwide investment firm that offers entrepreneurs access to cash, one-on-one mentoring, and tailored training. The initiative will seek out founders from all around the world who are passionate about driving technological innovation in areas like blockchain and digital payments in order to improve cross-border payments and financial inclusion.
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Staff Galactik Views