The Bank of Brazil's President Demonstrates an Open Finance Digital Real Concept with Payments and Stablecoin Integration

The future of personal finance was discussed by Roberto Campos Neto, president of the Bank of Brazil, in relation to the digital real, the central bank's digital currency (CBDC). While demonstrating a "super app" with PIX (a payments network) capabilities and connectivity with other stablecoins that were already on the market, Neto demonstrated the idea of "open finance" during the event.

The digital real, the projected Brazilian CBDC, is apparently expanding to have more and more capabilities. The Bank of Brazil's president, Roberto Campos Neto, demonstrated the idea the bank has for the final form of the currency.

Campos Neto presented the concepts for the currency that the organization has under the label open finance on November 25 during a web event.

This concept involves fusing conventional, decentralized financial organizations and structures with the still-developing digital world. A "super app" that would enable users to store both stablecoins and the CBDC was also displayed at the event, demonstrating the system's integration with the currently operational PIX payments network.