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Brazil’s BV Bank partners with ConsenSys and others to test tokenized car sales model

Brazil’s BV Bank partners with ConsenSys and others to test tokenized car sales model

CointimeCointime2024/04/09 07:59
By:Cointime

BV Bank, which focuses on the Brazilian car loan field, announced that it is testing a tokenization system to automate the car sales and financing process. The testing, conducted in conjunction with the platform's smart contract provider and designer Consensys and Parfin, will evaluate the benefits of using tokenized currency for car payments. The first phase of testing includes the use of tokenized currency and digital certificates of car ownership to accelerate consumer-to-consumer car transactions in simulated environments. These tests aim to provide a working platform to accelerate relevant operations after the release of the Brazilian central bank's digital currency Drex. (Bitcoin.com)

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