{"id":20853,"date":"2023-08-08T11:06:43","date_gmt":"2023-08-08T11:06:43","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/brazilian-cbdc-gets-official-name-and-logo\/"},"modified":"2023-08-08T11:06:45","modified_gmt":"2023-08-08T11:06:45","slug":"brazilian-cbdc-gets-official-name-and-logo","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/brazilian-cbdc-gets-official-name-and-logo\/","title":{"rendered":"Brazilian CBDC gets official name and logo"},"content":{"rendered":"
The Brazilian central bank digital currency (CBDC), previously commonly referred to as the \u201cdigital real,\u201d has been given its official brand name: the Drex.\u00a0<\/p>\n
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 \u201cDrex\u201d is an acronym:<\/p>\n
\u201c\u2018D\u2019 and \u2018r\u2019 allude to Real Digital; the \u2018e\u2019 stands for electronic and the \u2018x\u2019 conveys the idea of \u200b\u200bmodernity and connection, the use of distributed ledger technology (DLT).\u201d\u00a0<\/p><\/blockquote>\n
Along with the brand name, the central bank revealed Drex\u2019s 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 \u201ctransaction completed\u201d message.<\/p>\n