Brazil’s Central Bank revealed the official name of the new central bank digital currency (CBDC), also known as the digital real, DREX. The name was revealed during a live broadcast on the bank’s YouTube channel, hosted by Fábio Araújo, coordinator of the digital real, and Aristides Cavalcante, deputy head of the Central Bank’s technology and information department. The branding for DREX includes two arrows leaning into the ‘D,’ symbolizing the evolution of currency from physical to digital, and a color transition from blue to light green, signifying ‘transaction completed.’ DREX will be based on distributed ledger technology (DLT).
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