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Olá pessoal!
BCR had the privilege of hosting a panel session at the inaugural Brazil House at the World Economic Forum in Davos, Switzerland last week. I’m delighted to be able to release the full discussion as a special edition of the BCR podcast.
Our panel of industry leaders discussed Brazil's ascendance in the global digital assets ecosystem and its remarkable convergence of fintech and crypto innovation and traditional finance. The discussion featured:
Andre Portilho, Head of Digital Assets at BTG Pactual
Caroline Malcolm, Visiting Fellow at Oxford University
Dante Disparte, Chief Strategy Officer at Circle
Alan Cohn, Partner at Steptoe, LLC
We discussed several key developments shaping Brazil's digital asset landscape:
Every major Brazilian bank now maintains digital asset initiatives, with BTG Pactual and Nubank playing significant roles
How Circle's USDC partnership with Nubank reaches 100 million customers, marking a significant milestone in stablecoin adoption
The Central Bank of Brazil's DREX initiative advances as a pioneering hybrid wholesale CBDC model
Comprehensive digital asset regulations expected in 2024, positioning Brazil as a regional leader in regulatory framework
The panel highlighted how Brazil's three-phase modernization strategy - beginning with PIX, advancing through Open Finance, and culminating in DREX - demonstrates the country's methodical approach to financial innovation. This strategy, coupled with a tech-savvy population and forward-thinking regulatory environment, positions Brazil as a potential blueprint for other nations exploring the integration of traditional and digital finance.
What distinguishes Brazil's approach is its balanced consideration of innovation and stability. While embracing digital asset adoption, the country maintains strong oversight of capital flows and monetary sovereignty, creating a model that other emerging markets might follow.
This conversation provided a great insider vs outsider perspective on the state of crypto in Brazil as it sits right now, and it was an incredible opportunity to share what’s happening in Brazil with business and political leaders from around the world.
Have a great weekend everyone!
-AWS
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