Banco Inter, Chainlink Power Real-Time CBDC Trade Settlement Between Brazil and Hong Kong
Banco Inter and Chainlink successfully piloted real-time cross-border trade settlement between Brazil's Drex and Hong Kong's Ensemble using digital currencies.Summary
Brazilian financial giant Banco Inter, in collaboration with Chainlink, completed a blockchain-based pilot enabling the central banks of Brazil and Hong Kong to settle a cross-border trade transaction in real time using digital currencies and smart contracts. This test was part of Phase 2 of Brazil's Drex digital currency initiative, connecting the Drex network with Hong Kong's Ensemble platform, overseen by the Hong Kong Monetary Authority (HKMA). Chainlink's infrastructure provided the crucial connection, allowing automated workflows for fund and asset record movement across jurisdictions. The pilot tested delivery-versus-payment (DvP) and payment-versus-payment (PvP) models to reduce settlement risk, and also supported conditional payments. Supporting organizations included Standard Chartered, GSBN, and 7COMm. The project aims to create a foundation for a more inclusive trade finance ecosystem by reducing manual processes and costs, with plans to expand testing to more trade models.
(Source：CoinDesk)