The Central Bank of Brazil has launched the book-entry duplicatas ecosystem, marking the start of digital trading in these credit instruments that represent trade receivables widely used in commercial transactions and working capital finance. The new model replaces paper-based instruments with standardized, traceable electronic records, with the aim of improving transparency, operational security and legal certainty in receivables-backed financing. The central bank linked the launch to reduced information asymmetries and lower risks that have historically affected the duplicatas market, including duplicate assignments and difficulties in verifying ownership. For small and medium-sized enterprises, electronic registration is expected to make receivables easier for lenders to assess and verify, supporting broader financing access, more accurate risk pricing, stronger competition among financiers and potentially lower borrowing costs and faster access to funds. The central bank also noted that implementation took longer than originally planned because the pandemic and the rollout of the card receivables registry ecosystem highlighted the need for operational, technological and governance refinements that were incorporated into the final design.
Central Bank of Brazil2026-07-03
Central Bank of Brazil launches book entry duplicatas ecosystem to digitize trade receivables and support credit market access
The Central Bank of Brazil has launched the book-entry duplicatas ecosystem, enabling digital trading in trade receivables instruments that were previously paper based. The framework uses standardized electronic records to reduce ownership and assignment risks, with the central bank highlighting benefits for small and medium-sized enterprises through improved credit access, stronger competition and lower financing frictions.