Brazil and Hong Kong Complete Cross-Border Blockchain Trade Pilot with Chainlink

Brazilian digital bank Banco Inter, in collaboration with the Central Bank of Brazil and the Hong Kong Monetary Authority (HKMA), has successfully completed a blockchain-based international trade finance pilot using Chainlink's interoperability infrastructure. This initiative, part of Phase 2 of Brazil's Drex central bank digital currency (CBDC) project, simulated export transactions between Brazil's Drex network and Hong Kong's Ensemble platform, a blockchain system developed under the HKMA's Project Ensemble.

The pilot, which took place in late 2025, involved financial institution Standard Chartered, the Global Shipping Business Network (GSBN), and 7COMm. It tested delivery-versus-payment (DvP) and payment-versus-payment (PvP) models, enabling simultaneous transfers of goods and payments to reduce settlement risk. Chainlink provided the critical connectivity between the two networks, automating the flow of funds and asset records across jurisdictions. According to Banco Inter, the platform supports tokenized payments and automates title transfers via smart contracts, lowering costs, reducing risk, and opening international market opportunities for small and medium-sized businesses.

Bruno Grossi, Head of Digital Assets at Banco Inter, emphasized that integrating Chainlink enables connectivity between central banks and trade finance platforms, fostering a more interconnected financial ecosystem. The pilot also included conditional and installment-based payments, releasing funds only when specific transaction stages were confirmed. This demonstrates how blockchain technology can synchronize the movement of goods, payments, and title transfers, addressing complexities in the $30 trillion global trade finance system.

Background details reveal that Brazil's central bank has accelerated its digital currency pilot over the past year, developing a synthetic digital real that combines programmability, privacy, and decentralization. Brazil ranks fifth globally in crypto adoption, with approximately 90% of crypto transactions involving stablecoins, though the pilot specifically used CBDCs rather than other crypto assets. The Drex project is described as an infrastructure initiative aimed at expanding credit access and modernizing Brazil's financial system.