This page may contain stale information. Last updated: 2026-06-28
Overview
Brazil’s 2026–2028 receivables digitization reform transforms ~R$10T annual commercial invoice market via duplicata-escritural — often compared to Pix’s impact on retail payments but for business credit.
Timeline
- 2018: Federal Law 13.775/2018 legal framework
- 2023: BCB Resolution 339/2023 operational rules
- 2026-06-30: System activation
- 2027–2028: Phased mandatory adoption by company size
Key Players
- banco-central-do-brasil — regulator
- B3, Núclea, CERC — authorized registrars
- Banks (Santander, etc.) — integration partners
Analysis
Structural credit infrastructure change in G20 economy. Reduces double-pledging fraud, enables receivables tokenization (RWA). Adoption risk remains primary challenge — voluntary start requires bank/SME buy-in.
Related Topics
- duplicata-escritural
- trade-finance
- tokenization
- emerging-markets
- fintech-regulation
- brazil-duplicata-escritural-digital-receivables