Drex: Pix’s cousin has already had 500 operations in the testing phase – 09/13/2023 – Market

Around 500 operations were successful in the first phase of testing Drex — the digital real being developed by the Central Bank, the monetary authority reported this Wednesday (13).

Since the beginning of the pilot, procedures such as issuing and destroying Drex and transfers between banks and between customers have been simulated. In the simulations, the first issuance of federal public bonds was also carried out last Monday (11). From now on, participants can initiate simulated buying and selling operations of these securities among themselves and between clients.

Of the 16 groups selected for the pilot, 11 institutions already operate on the network. They began to be incorporated into the Drex platform at the end of July. According to the BC, the operation of the first phase of the pilot should last until mid-2024.

“The operations that are being made available for testing on the network refer to the creation of wallets for participants, who operate with wholesale Drex, and the creation of wallets for end customers, who operate with retail Drex”, said Fabio Araujo, coordinator of the project at BC, in a note.

“In addition to creating wallets, participants have already started to carry out transfer operations, which can be directly between participants, between a participant and their client, between clients of the same participant and even between clients of different participants”, he continued.

The digital real was named Drex by the BC on August 7th and presented as “an additional step in the Pix family”.