Brazil's Central Bank phases out cash notes and expands open data on consortia

The Central Bank of Brazil announced a gradual withdrawal of the R$2 to R$100 banknotes issued in 1994, replacing them with newer versions that feature updated security elements. The older notes will remain legal tender and can be exchanged at banks, with no fixed deadline for a complete transition. The move coincides with the rapid growth of the digital payment system Pix, which in 2024 was used by 76.4% of the population, surpassing cash usage at 68.9%.

In a separate initiative, the bank launched an Open Data Portal that now provides consolidated information on the country's consortia system, replacing the previous annual Panorama report. Data for 2025 show a 17.3% increase in resources collected compared with 2024, with notable growth in the volume of resources, portfolio size, and the number of quotas sold. The portal offers the data in reusable, structured formats and the bank is considering moving from annual to quarterly updates.