Brazil Central Bank Names Its Digital Currency 'DREX,' Scheduled For 2024 Launch

Brazil's central bank has named its upcoming digital currency "DREX," which it aims to use to boost financial services. DREX is scheduled to launch next year. Reuters reports: The DREX will use distributed ledger technology (DLT) to settle wholesale interbank transactions, while retail access will be based on tokenized bank deposits. Officials from the central bank previously predicted that the adoption of the Brazilian digital currency would commence by the end of 2024, following the completion