**News Flash: Brazil's Central Bank Pushes Forward with CBDC Pilot**

The Central Bank of Brazil is now accepting applications for phase 2 of its Drex central bank digital currency (CBDC) pilot project, running from Oct. 14 to Nov. 29. The focus is on business cases that can be implemented via smart contracts.

Key Points:

- No launch date for Drex yet, but live tests may follow this pilot.

- Privacy solutions and legal compliance are crucial.

- 13 business cases confirmed, including international trade finance and real estate negotiations.

- Tokenization and DeFi are also in focus.

- Drex aims to replace Brazil's current real-time gross settlement system.

Stay tuned as Brazil accelerates its CBDC development!