The Central Bank of Brazil is working with Banco Inter, Microsoft Brazil, 7COMm, and Chainlink to develop a central bank digital currency (CBDC). The purpose of this partnership is to support trade finance solutions and a Brazilian DREX pilot program in the second stage. The focus of this phase is automating the cross-border settlement of commodity-related transactions using blockchain technology and oracles.
This initiative tokenizes an electronic waybill (eBOL) and integrates supply chain data to automate payments. The pilot project aims to demonstrate how blockchain-based trade finance enables prepayment (Delivery versus Payment, DvP) and Payment versus Payment – use of PvP mechanisms. The Brazilian rollout of the DREX platform is led by Banco Inter, while Microsoft Brazil and 7COMm provide cloud services and technical support.
Chainlink’s CCIP infrastructure facilitates cross-chain transfers for DREX and other CBDCs. By using this technology, they aim to expand market access and strengthen Brazil’s economic position while broadening access to smart financial services.
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