Banco Inter and Chainlink Enable Real-Time CBDC Trade Settlement
- Banco Inter and Chainlink completed a pilot for real-time cross-border trade transactions between Brazil and Hong Kong.
- The pilot is part of Phase 2 of Brazil’s Drex digital currency initiative, aiming to create a digital version of the Brazilian real.
- The test linked Brazil’s Drex network with Hong Kong’s Ensemble platform, overseen by the HK Monetary Authority (HKMA).
- It included delivery-versus-payment (DvP) and payment-versus-payment (PvP) model tests to reduce settlement risk.
- Supporting organizations included Standard Chartered and the Global Shipping Business Network (GSBN).
This project aims to streamline trade finance by reducing manual processes and improving coordination across platforms, potentially lowering costs for banks and exporters, particularly smaller firms.
The successful completion of this pilot highlights the potential for enhanced financial ecosystems, as it connects multiple stakeholders in real-time transactions using digital currencies. (Source)
