The Stellar Development Foundation joined Mercado Bitcoin's CBDC consortium for Brazil's LIFT Challenge to develop a digital Real. The initiative aims to demonstrate instant settlement and delivery versus payment for crypto-assets, with a pilot potentially launching in Q4 2022.
Mercado Bitcoin announced that the Stellar Development Foundation is joining its central bank digital currency consortium participating in Brazil's LIFT Challenge for a digital Brazilian Real. The Central Bank of Brazil previously indicated a digital Real pilot could begin in the fourth quarter, aligning with Stellar's timeline for the second half of 2022. The LIFT Challenge involves nine consortia exploring various CBDC use cases. The Mercado Bitcoin consortium, which also includes Bitrust and CPqD, focuses on demonstrating delivery versus payment and instant settlement for crypto-assets, capabilities already common with stablecoins.