🚀 Brazil Central Bank Selects Participants For Second Phase Of Digital Currency Pilot

According to CoinDesk, Brazil's central bank (BCB) has announced the selection of 13 participants for the second phase of its central bank digital currency (CBDC) pilot, known as Real Digital. The BCB will oversee 11 projects, while the local Securities and Exchange Commission (CVM) will supervise two. This phase, called Drex, received 42 proposals, the bank stated in a recent announcement.

In this second phase, the infrastructure created for the pilot will test the implementation of financial services through smart contracts managed by third-party participants. Among the selected projects, Visa will collaborate with Brazilian brokerage XP and digital bank Nubank to optimize the foreign exchange market. Spanish banking giant Santander will work on projects involving automobile operations and lending and decarbonization.

Other notable local financial entities participating in this phase include Bradesco, Itaú Unibanco, and the local stock exchange B3. The BCB also mentioned that it plans to open a new call for firms interested in participating in the Drex pilot in the third quarter of 2024. The goal is to test the implementation of smart contracts by the end of the first half of 2025.

In May 2023, the BCB had selected 14 participants for the first phase of the Real Digital pilot.

#Brazil #CentralBank #DigitalCurrency #CBDC #RealDigital #Pilot #SmartContracts #Visa #Nubank #XP #Santander #Bradesco #ItaúUnibanco #StockExchange #B3 #Drex #FinancialServices #Decarbonization #ForeignExchange #2024 #2025

🚀 Jared Isaacman Nominated As Next NASA Commissioner

According to Cointelegraph, President-elect Donald Trump has announced the nomination of Jared Isaacman, a billionaire fintech CEO and experienced pilot, as the next commissioner of NASA. This appointment is pending congressional approval. If confirmed, Isaacman will succeed Bill Nelson, becoming the 15th individual to lead the space agency.

Isaacman is currently the CEO of Shift4, a financial technology company that processes over $260 billion annually and serves more than 200,000 clients. He is also recognized for his connections with Elon Musk and SpaceX, a commercial partner of NASA. In 2021, Isaacman played a significant role in the Inspiration4 mission, a private spaceflight using SpaceX’s Crew Dragon Resilience. He returned to space in September 2024 as the commander of the Polaris Dawn mission, where he became the first private citizen to perform a spacewalk.

Before his ventures in space, Isaacman was a certified pilot for various civilian and military aircraft and was part of an aeronautical stunt team. In the business sector, he co-founded and served as CEO of Draken International, a defense aerospace company and contractor for the US Department of Defense. Trump's announcement on Truth Social highlighted Isaacman’s accomplishments as a business leader, philanthropist, pilot, and astronaut, expressing confidence in his ability to advance NASA’s mission of discovery and innovation.

Isaacman’s nomination is part of a series of moves by the Trump transition team as the president-elect prepares to assume office in January. Alongside Isaacman’s potential appointment, Trump has also announced plans to replace the current head of the Securities and Exchange Commission, Gary Gensler, with former SEC commissioner Paul Atkins, known for his pro-crypto stance. Additionally, Trump has reportedly selected University of Maryland finance professor Michael Faulkender as Deputy Secretary of the Treasury and is considering Florida Governor Ron Desantis as a replacement for Pete Hegseth, who was previously the presumptive nominee for Secretary of Defense.

#JaredIsaacman #NASA #Trump #SpaceX #Inspiration4 #PolarisDawn #Finance #Aerospace #Innovation #SpaceAgency #Congress #Commissioner #Spacewalk #CEO #Philanthropist #Pilot

🚀 Pakistan Prepares for Digital Currency Pilot and Virtual Asset Regulations

According to PANews, Pakistan's central bank is preparing to launch a digital currency pilot and finalize regulations for virtual assets. On July 9, during the Reuters NEXT Asia Summit, Central Bank Governor Jameel Ahmad stated that the country is advancing the modernization of its financial system and enhancing its central bank digital currency capabilities, with hopes to initiate the pilot soon. Ahmad discussed the challenges of South Asian monetary policy with the Central Bank Governor of Sri Lanka, noting that new legislation will establish a foundation for licensing and regulating the virtual asset industry. The central bank has already engaged with some technology partners. He emphasized that this emerging field presents both risks and opportunities, requiring careful risk assessment and management to seize potential benefits. On the same day, Pakistan's Minister of State for Blockchain and Cryptocurrency Affairs announced that the government has approved the Virtual Assets Act 2025, which will establish an independent body to regulate the cryptocurrency industry.

#Pakistan #DigitalCurrency #VirtualAssets #CentralBank #Cryptocurrency #FinancialSystem #Regulations #Blockchain #Pilot #Legislation #RiskManagement

🚀 UK Banks to Launch Tokenized Deposits in Response to Central Bank's Call

According to PANews, several major UK lending institutions are advancing plans to introduce tokenized versions of customer deposits next year. This move comes in response to a call from the Bank of England's Governor, Andrew Bailey, who advocated prioritizing tokenization technology over stablecoins. The UK Finance Association revealed on Friday that banks such as HSBC, NatWest, and Lloyds have initiated pilot projects to facilitate payments using tokenized deposits through online marketplaces. The trial also involves Barclays, Nationwide Building Society, and Santander, and is expected to continue until mid-2026. Additionally, the pilot will explore the application of tokenized deposits in mortgage transfer processes and digital asset settlements.

Despite the Financial Conduct Authority (FCA) anticipating the finalization of stablecoin regulatory rules by the end of 2026, the Bank of England has clarified that banks can conduct tokenized deposit experiments within the existing regulatory framework. Currently, several large banks are simultaneously exploring both tokenized deposits and stablecoins. In July, Citigroup's CEO remarked that the significance of tokenized deposits might surpass that of stablecoins.

#tokenizeddeposits #tokenization #ukbanks #bankofengland #fca #stablecoins #payments #mortgage #digitalassets #pilot #hsbc #natwest #lloyds #barclays #nationwide #santander #citigroup

🚀 SEC Approves DTCC's Blockchain Pilot for U.S. Treasury Securities

According to Odaily, the U.S. Securities and Exchange Commission (SEC) has approved a limited pilot by the Depository Trust & Clearing Corporation (DTCC) to tokenize U.S. Treasury securities on the Canton Network blockchain. In this pilot, the treasuries will remain on DTCC's centralized ledger, with tokens serving as representations of ownership. The initial trial is expected to commence in the first half of 2026.

#SEC #DTCC #Blockchain #CantonNetwork #USTreasurySecurities #Tokenization #Pilot #BlockchainPilot #TokenOwnership #FinancialInnovation

🚀 BC Card Completes Stablecoin Payment Pilot for Foreign Users

According to Odaily, South Korean credit card company BC Card has successfully completed a pilot project for stablecoin payments. This initiative enables foreign users to pay local merchants using stablecoins. Users can convert stablecoins stored in overseas wallets partnered with BC Card into digital prepaid cards.

#BCCard #stablecoin #payment #pilot #foreignusers #digitalprepaidcards #SouthKorea

🚀 Sberbank Issues Russia's First Crypto-Backed Loan

According to PANews, Russia's largest bank, Sberbank, has issued the country's first loan backed by cryptocurrency to Bitcoin mining company Intelion Data. This transaction is described as a 'pilot,' though details regarding the loan's size, duration, and specific collateralized cryptocurrencies have not been disclosed. Sberbank hinted at the possibility of offering similar loans in the future. The bank utilized its proprietary cryptocurrency custody solution, Rutoken, to ensure asset security during the loan period.

#Sberbank #Russia #crypto #cryptocurrency #Bitcoin #mining #loan #pilot #IntelionData #Rutoken #custody #finance #blockchain #BTC

🚀 WLFI Surges 10% Following Major Stablecoin Pilot Announcement

WLFI experienced a significant 10% increase after announcing a partnership with a $3.5 trillion asset servicer to pilot its USD1 stablecoin. According to NS3.AI, this development underscores strong institutional interest in WLFI, even as Bitcoin and Ethereum continue to hover near multi-week lows. The collaboration highlights a positive trend for WLFI amid the broader softness in the cryptocurrency market.

#WLFI #Stablecoin #Partnership #InstitutionalInterest #Cryptocurrency #Bitcoin #Ethereum #Pilot #USD1 #NS3AI #TrillionAssetServicer #BTC