- The central banks of Brazil and Hong Kong have successfully piloted a cross-border CBDC trade finance platform using Chainlink’s interoperability protocol.
- Blockchain Summit Latam 2025 will feature a live tokenization lab with participation from central banks and large financial institutions.
In a joint assessment by financial authorities, brazil and hong kong examined practical use cases of blockchain technology in international commerce. This project includes Brazilian digital bank Banco InterIt was carried out under the supervision of. central bank of brazil and Hong Kong Monetary Authority.
The objective was to assess how distributed ledger technology can enhance the efficiency and security of both import and export payment operations. This evaluation recreated the end-to-end sequence of an export transaction between two independent digital financial infrastructures.
This technical exercise constitutes a component of Phase 2. Brazilian drex projectNational Central Bank Digital Currency Business. The simulation created a connecting digital corridor. Brazilian drex network Integration with the Ensemble platform Hong Konga blockchain framework developed under the HKMA’s Project Ensemble.
Interoperability for linking these two separate networks was achieved using infrastructure provider protocols. chain link. The established connections facilitated the testing of coordinated payment mechanisms utilizing tokenized assets, suggesting a potential move away from traditional piecemeal trade finance practices.
Technical mechanisms and main participants of pilot tests
The field of trade finance includes credit arrangements and payment systems that enable importers and exporters to conduct business internationally. This field has traditionally been considered operationally complex and dependent on manual intervention.
joint Brazil and Hong Kong foldWe tackled these issues head-on through the deployment of smart contracts. These automated programs enforce the terms agreed upon in the transaction and ensure that payments are synchronized with the delivery of title documents.
Global Financial Services Group standard chartered He also participated in the pilot, drawing on his extensive knowledge of international financial markets. partnership between Banco Inter And Chainlink is not new, with the two organizations having previously collaborated on the early stages of the Drex initiative.
Situation in Brazil: Accelerating adoption of digital real and stablecoins
This cross-border initiative coincides with China’s growing focus on digital currencies. central bank of brazil. Development work on Digital Real Pilot has progressed at a faster pace throughout the past 12 months. The agency’s objective is to create a synthetic digital currency that incorporates programmability, privacy controls, and managed decentralization measures.
The use of stablecoins has expanded significantly in the Brazilian market. central bank of brazil President Gabriel Garipolo provided a concrete indicator of this trend at a conference in February, revealing that around 90% of all crypto transactions in Brazil use stablecoins. These digital assets maintain a fixed value tied to traditional currencies such as the US dollar.
Although the Drex project is often classified as a central bank digital currency, Garipolo offered a more detailed interpretation. He positions Drex primarily as a financial infrastructure effort. Its essential function is to expand credit available to individuals and businesses while updating the national financial structure.
Blockchain Summit Latam 2025: Meeting Point for Digital Financial Infrastructure
Practical advances seen in Brazil and debates happening around the world latin america It is expected to find a central forum for analysis later this year. of Blockchain Summit Latam 2025 will be held from November 12th to 14th at EAFIT University in Medellin, Colombia. The event has established itself as a leading gathering of organizations involved in building the region’s digital financial infrastructure.
The conference agenda brings together a diverse group of over 70 speakers from regulatory agencies and the private sector. Confirmed participants will be Bank of the Republic of Colombia, central bank of brazil Introducing the Drex project and the Chilean Financial Commission Committee. Private sector representatives include executives from companies such as: Binance, Tether, Circle, Ripple, BBVA, BTG Pactual.
A feature of BSL 2025 is the introduction of the “Financial Lab”. The space is envisioned as a hands-on laboratory where banks and fintech companies can conduct tests on real-world use cases. These workshops will focus on practical applications such as asset tokenization, cross-border payment systems, and the introduction of stablecoins into institutional trading environments.
Rodrigo Sainz, CEO and Founder Blockchain Summit Latamexplained the purpose of this year’s event. The goal is to demonstrate that tokenization has gone beyond a technical promise and now forms the basis of a new infrastructure for the global financial system. Sainz added that Latin America has an opportunity to lead this structural change.
Expecting more than 1,000 attendees each day, the event will serve as a conduit to connect the traditional regulated financial world with the crypto financial sector.
