Nubank issues an official statement regarding the new coin

In the statement, Nubank stresses the importance of this development for funds in Brazil and highlights how Drex will change the way customers handle their finances. The digital currency, which will be a virtual representation of reality, promises to bring more practicality and innovation to the financial scenario.

“Do you know what Drex is? It is the new official currency of Brazil‘ says the photo.

Additionally, Nubank mentions the testing phase that the central bank will start in September, and also highlights that the prediction is that Drex will be available to the public by the end of 2024.

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This official confirmation from Nubank brings even more credibility and excitement to Drex’s arrival. The new digital currency is about to revolutionize the way we deal financially and pave the way for a more technological and practical future.

“The Central Bank announces Drex: a new representation of reality on a digital platform,” the bank announced. And they published: “Unlike a banknote, which you keep in your wallet, this money will be stored in virtual systems, allowing transactions to be made at the same real value.”

“It will be possible to digitize physical currency and enable transactions, payments and receipts, in addition to financial services under development, such as smart contracts and programmable money,” they said.

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What is Drex?

The idea behind Drex is simple: imagine the real thing, only now in digital format. Instead of carrying physical bills, customers will receive the equivalent value stored in virtual environments. This will enable transactions of the same real value, but in a more modern and convenient manner.

To access Drex, customers will use digital wallets provided by financial institutions. That is, it will be a new way of dealing with money and conducting transactions.

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