Banco Inter, Chainlink Power Real-Time CBDC Trade Settlement Between Brazil and Hong Kong

Core Insights - Banco Inter and Chainlink have successfully conducted a blockchain-based pilot for real-time cross-border trade transactions using digital currencies and smart contracts [1][2] - The pilot is part of Brazil's Drex digital currency initiative, linking Brazil's Drex network with Hong Kong's Ensemble platform [2] - The project aims to create a more inclusive trade finance ecosystem by reducing costs and improving coordination across platforms [5] Group 1: Pilot Details - The pilot involved the Central Banks of Brazil and Hong Kong, enabling real-time settlement of transactions [1] - Chainlink's infrastructure facilitated the connection between Brazil's and Hong Kong's systems, allowing automated workflows for fund and asset record transfers [2] - The pilot tested delivery-versus-payment (DvP) and payment-versus-payment (PvP) models to minimize settlement risk [3] Group 2: Payment Mechanisms - The system supported conditional and installment-based payments, releasing funds upon confirmation of specific trade process stages [4] - Supporting organizations included Standard Chartered, GSBN, and 7COMm, with GSBN managing updates to the electronic bill of lading [4] Group 3: Future Plans - The partners intend to expand testing to include additional trade models and connect with more financial institutions [5]