Banco Inter and Chainlink completed their first cross-border, cross-chain trade experiment

Banco Inter and Chainlink, in collaboration with the Central Bank of Brazil (BCB), the Hong Kong Monetary Authority (HKMA), and global partners including Standard Chartered, Global Shipping Business Network (GSBN), and 7COMm, have successfully completed a blockchain-based international trade finance experiment. This is a milestone in enabling small and medium-sized businesses (SMBs) to sell commodities abroad through a secure, automated platform.

Bridging borders with blockchain

The experiment, part of Brazil’s Drex central bank digital currency (CBDC) initiative, tested a programmable Delivery-versus-Payment (DvP) transaction and a cross-border Payment-versus-Payment (PvP) transaction under Phase 2. These mechanisms enable conditional and instalment payments, simulating export settlements between Brazil’s Drex network and Hong Kong’s Ensemble network.

Chainlink provided the secure infrastructure to link the two blockchain environments and facilitate compliant settlement workflows across borders. Additionally, GSBN automated title registry changes for electronic bills of lading (eBL) during the payment process, automating what has traditionally been a manual, complex coordination task.

This project is the first to link a blockchain-based title registry with cross-chain payment infrastructure through a single, automated workflow. The result is a new standard for global trade settlements that reduces costs, mitigates risk, and opens international markets to SMBs.

Bruno Grossi, Head of Digital Assets at Banco Inter, stated, “Banco Inter relies on innovation to create solutions that have a positive impact on our clients’ financial lives and the broader economy. By leveraging Chainlink to connect the BCB, the HKMA, and trade finance platforms, we’re building a more connected financial ecosystem that has the ability to underpin the future of global trade.”

How does the technology work?

The DvP model uses Chainlink to automatically manage payments and transfer the electronic bill of lading (eBL). It eliminates the need for manual intervention between banks, platforms, and shipping parties. To reflect real-world trade conditions, the project introduced a token backed by commodities, providing counterparties with instant liquidity and reducing settlement risk and operational friction.

Two core Chainlink technologies enabled this solution. The first one is Chainlink Runtime Environment (CRE). It connected Brazil’s Drex platform with Hong Kong’s Ensemble network and the DLT-based Trade Finance Platform on Besu, routing payment instructions and triggering eBL transfers through GSBN’s API.

The second is Chainlink Cross-Chain Interoperability Protocol (CCIP), which ensured secure communication between Drex and the Trade Finance Platform, synchronising contract executions and credit releases across networks automatically.

“Programmable cross-border payments, conditional on supply chain updates, significantly streamline operations and unlock massive automation efficiencies. We look forward to expanding our work and building out new capabilities to accelerate the evolution of international commerce into this new smart contract-enabled paradigm with Inter, Standard Chartered, and GSBN as part of this multi-jurisdictional project,” quoted Fernando Luis Vázquez Cao, President of Banking and Capital Markets at Chainlink Labs.

Benefits for and future plans 

The success of the experiment brings benefits across the trade finance space. For banks, automated settlements help reduce operational overhead and improve risk management. Exporters, importers, and shipping companies benefit from payments being released as goods approach delivery, which minimises delays and enhances supply chain agility. SMEs gain the ability to engage directly with overseas buyers, enjoy faster settlements, and access new credit lines through the tokenisation of commodities and automated title transfers.

Looking ahead, the partners plan to broaden the platform’s capabilities to cover additional trade finance use cases, such as open account trade. They also aim to integrate directly with financial institutions via APIs and enhance interoperability with other electronic bill of lading providers to encourage wider adoption. 

This project sets a new standard for international commerce by using advanced blockchain technology to enhance inclusivity and operational efficiency.