Brazil - Galipolo’s SUR digital currency initiative has a turbulent road ahead

The Lula da Silva administration’s digital currency proposal is converging with a handful of other contentious political issues involving the politics of currency and financial infrastructure.

On 13 December of last year, Gabriel Galipolo was chosen by Brazilian Finance Minister Fernando Haddad to be the minister’s number two. It is widely believed that the 39-year old Galipolo will lead the SUR initiative, a cross-border common digital currency being plotted by the new government in Brasilia for cross-border transactions between Brazil and A…