Market Design

In this article, we explore how innovations such as CBDCs, Open Finance, and data technologies are transforming financial intermediation. We introduce a platform leveraging CBDCs to fund trade credit advances for SMEs, with credit assessments powered by AI and market data. The framework emphasizes the role of guarantors, smart contracts, and secondary digital loan markets, highlighting their importance in enhancing financial intermediation. Stability and reasonable returns are indicated through simulations, underscoring guarantors' significance. The article was presented at BACEN's workshop on the tokenization of finance.

read more


In the second article, we introduce a simulation methodology for this ecosystem, based on agent-based modeling. These simulations are crucial for assessing the ecosystem's stability across different scenarios and assisting in defining the platform's operational parameters.

read more