Itaú and BTG carry out the first transfer using Drex, the 'Real Digital'; look

With the implementation of the new Brazilian digital currency, the drex, increasingly closer, Itaú and BTG carry out the first transaction using the novelty. Could the transfer be a sign that Pix is ​​getting closer to its end?

This is certainly not the case, because digital currency has been tested in conjunction with the central bank (BC), to also integrate payment methods in the country. This way, one type of transaction does not directly impact the other due to their specific applications.

The Drex transaction carried out between BTG and Itaú was the first official test of the digital currency's functioning, demonstrating progress.

According to preliminary information, the money was sent by BTG to Itaú and, after confirming the correct sending, Itaú returned the amount to the originating institution.

More details about the new digital currency

Still according to the data released, Drex does not just function as a representation of the existing currency. In fact, the name is made up of initials that represent the new tokenized currency, being a different tool. Look:

• D: represents the word “Digital”.
• A: it makes direct reference to Brazil's currency, the Real.
• E: brings with it the meaning of “Electronics”.
• X: conveys the idea of ​​ease, modernity and connection, with the last letter of the word “Pix”.

The currency should actually be used differently, since it and the Real have the same value attached, but serve different purposes. According to some data, the drex should be commonly used in negotiation environments between large companies.

Drex’s operations in Brazil

Tests for the new feature are being carried out by a total of 16 financial institutions, with BTG and Itaú being the first to carry out the tests. However, tests must become increasingly frequent to understand how digital currency works and its applications.

The launch of Drex brings large banking institutions and companies from different sectors and niches as its main audience. However, it can also be used by Brazilians in the future, as it promotes easier processes and digital inclusion for thousands of Brazilians.

Therefore, the new feature will not replace the existing Pix, as, in fact, this type of instant transfer currently deals directly with the movement of Real in digital representation.

This way, it is clear that the Drex does not replace the common Real, being a different asset, but directly connected to the country's main currency.