Developer Builds Prototype of Brazil's DREX Digital Currency Using Stellar and Rust
A blockchain developer built a working prototype of DREX, Brazil's central bank digital currency, using Soroban smart contracts on the Stellar Testnet written in Rust. The project was inspired by the Banco Central do Brasil's official DREX pilot and aimed to explore the technical challenges of implementing a sovereign digital currency. The prototype included regulatory features such as controlled token minting restricted to an authorized issuer, account freezing for judicial compliance, and immutable audit trails via on-chain events. Tests on the Stellar Testnet showed transaction confirmation times consistently under six seconds and transfer costs at fractions of a cent, highlighting potential efficiency gains over legacy settlement systems. The developer noted that while the technical implementation is feasible, sovereign currency tokenization is ultimately more a governance challenge than a coding one.
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