Brazil, Hong Kong test cross-border blockchain trade system via Chainlink

Banco Inter and Chainlink test cross-border trade finance using Brazil’s Drex and Hong Kong’s Ensemble networks in landmark blockchain pilot.

Brazilian digital bank Banco Inter has completed a blockchain-based international trade finance pilot with Chainlink, the Central Bank of Brazil and the Hong Kong Monetary Authority (HKMA), showcasing how distributed ledger technology can simplify cross-border settlement.

The experiment took place under Phase 2 of Brazil’s Drex central bank digital currency (CBDC) project and simulated the settlement of export transactions between Brazil’s Drex network and Hong Kong’s Ensemble platform, a blockchain system developed under the HKMA’s Project Ensemble initiative. 

Chainlink provided the interoperability infrastructure connecting the two networks, according to Banco Inter.

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