The consortium of CAIXA, Elo and Microsoft has completed the first public auction of treasury bonds on the Central Bank’s network, as part of the testing phase of Drex.
Drex, an initiative by the Central Bank, aims to provide a secure and regulated environment for generating new business and making the benefits of the digital economy more accessible to citizens and entrepreneurs. In this exercise, the National Treasury initiated a token auction for Treasury Bills (LTN), enabling bids from participating entities.
The consortium made a purchase offer for 1,000 LTN tokens for R$986,000 and was successfully accepted. Although conducted in a test environment, the operation was not performed with real values but simulated with digital assets. The asset exchange was completed instantly, utilizing Blockchain technology, and setting a record by completing the process in just five seconds. This marks a technological advance compared to the usual time frame, which can take up to two business days.
“This achievement demonstrates our commitment to adopting innovative technologies and boosting efficiency and inclusion in financial services. We are committed to continuing to lead this transformation and to explore the potential of Digital Transformation to benefit the Brazilian people and the economy as a whole,” said Maria Rita Serrano, President of CAIXA.
Eduardo Merighi, who heads the Products and Technology area at Elo, added: “We are proving at this moment that it is indeed possible, with technology, method and a desire for disruption, to increase efficiency and provide broader access to financial services.”
Júlio Gomes, Vice President of Financial Services at Microsoft Brazil, emphasized the significance of this collaboration.
He said: “The partnership between Microsoft and innovative financial institutions like CAIXA and Elo is a powerful example of how technology can enable innovation in the financial sector. The computational power of the cloud, combined with layers of security native to our solution, are fundamental elements for building robust, agile and secure financial solutions. This promising collaboration between companies is shaping the future of financial transactions in the country.”
In previous tests, the consortium connected to the Drex network and also completed the first interbank transfer, this time in association with Banco do Brasil.
Among the myriad possibilities with Drex, CAIXA plans for tokenized social benefit payments and a more agile process for housing loans, which currently take an average of 25 days to reach registration at the registry office.
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