News
18 December 2018

BNDES chooses Ethereum for token pilot

Region:
Americas

Brazil's BNDES has chosen Ethereum's blockchain to launch a new pilot for their BNDES token. The BNDES token is designed to be a stablecoin, supported at a 1:1 exchange for the Brazilian real.

Though the launch of the pilot comes in January, the bank has already been developing and testing out the stablecoin this year. The plan is to use it as a method of covering tax-deductible contributions involving cultural institutions.

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