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Chainlink Cross-Border Settlement connects Brazil’s Drex CBDC and Hong Kong’s Ensemble network, marking a milestone in trade finance.
Author: Akshat Thakur
Published On: Mon, 03 Nov 2025 16:46:39 GMT
November 3, 2025 – The Chainlink Cross-Border Settlement initiative has achieved a historic milestone, connecting Brazil’s Drex Central Bank Digital Currency (CBDC) network with Hong Kong’s Ensemble network through a programmable blockchain trade finance pilot.
Under Phase 2 of Brazil’s Drex CBDC initiative, the experiment linked the BCB and HKMA for programmable DvP and PvP transactions. Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and Chainlink Runtime Environment (CRE) enabled interoperability between networks, automatically triggering payments and title transfers for commodities in trade.
Banco Inter acted as the lead financial institution, orchestrating settlements through a smart-contract system that released funds and transferred electronic bills of lading (eBLs) simultaneously. GSBN handled title-registry updates, while Chainlink ensured secure message routing and compliance with ISO 20022 standards.
The project demonstrates how blockchain can streamline international trade finance, traditionally slow and paperwork-intensive. By automating DvP and PvP flows, the platform reduces counterparty risk, minimizes delays, and enables small and medium-sized enterprises (SMEs) to export commodities abroad with programmable settlement.
“By leveraging Chainlink to connect the BCB, HKMA, and trade finance platforms, we’re building a more connected financial ecosystem that underpins the future of global trade,” said Bruno Grossi, Head of Digital Assets at Banco Inter.
The Chainlink Cross-Chain Interoperability Protocol (CCIP) secured communication between the Drex network and Hong Kong’s Ensemble system, while the Chainlink Runtime Environment (CRE) translated messages and coordinated transactions across different DLTs.
This integration enabled programmable fund escrow and release based on real-time supply chain updates a first for a central-bank-level trade pilot. Fernando Luis Vázquez Cao, President of Banking and Capital Markets at Chainlink Labs, called it “a major step forward for global trade automation.”
Following the successful pilot, partners plan to extend the platform to open-account trade, API-based bank integration, and other electronic bill of lading (eBL) providers. The Chainlink Cross-Border Settlement model could serve as the foundation for future programmable CBDC networks, enhancing liquidity and inclusivity in global commerce.
The initiative demonstrates how on-chain automation and interoperability can reshape trade finance — delivering real-world benefits to banks, regulators, and SMEs alike.
Real voices. Real reactions.
@chainlink @BancoCentralBR @hkmagovhk The banks aren’t buying LINK. They’re using infrastructure that depends on LINK staking. Node operators, DeFi projects, and large holders will buy or lock LINK to run those CCIP connections safely. That’s where the buying pressure originates. So the market effect is
@chainlink @BancoCentralBR @hkmagovhk One thing that is a bit concerning is that the relevant CBDC will clearly be related to China's CBDC.
@chainlink @BancoCentralBR @hkmagovhk Amazing that these huge central banks have chosen $LINK over $XRP again.
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