Brazilian CBDC gets official name and logo

Previously commonly referred to as the “digital real,” the Brazilian central bank digital currency gets its official brand name.

The Brazilian , previously commonly referred to as the “digital real,” has been given its official brand name: the Drex. 

On Aug. 7, the Central Bank of Brazil issued a press release revealing

and explaining the new brand for its CBDC. Developed by the central bank, the brand “Drex” is an acronym:

“‘D’ and ‘r’ allude to Real Digital; the ‘e’ stands for electronic and the ‘x’ conveys the idea of ​​modernity and connection, the use of distributed ledger technology (DLT).” 

Along with the brand name, the central bank revealed Drex’s visual identity.

On the CBDC logo, two arrows, including in the capital D, picture the evolution

of the national fiat currency, the real, to its digital version, while the transition

from blue to light green colors stands for the “transaction completed” message.

In July, Pedro Magalhães, a blockchain developer and founder of tech

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consulting firm Iora Labs, has reportedly discovered functions in the Drex code

that would allow a central authority to . Last year, Fabio Araujo, an economist at the Brazilian central bank,

explained that the CBDC has the in the country.

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