Chainlink Labs, a blockchain oracle service provider, has joined forces with Microsoft Brazil and other industry players to work on the second phase of Brazil’s central bank digital currency (CBDC) initiative, DREX.
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Chainlink Labs, a blockchain oracle service provider, has joined forces with Microsoft Brazil and other industry players to work on the second phase of Brazil’s central bank digital currency (CBDC) initiative, DREX.
Collaborative Efforts for Advanced Trade Finance
The pilot aims to leverage blockchain technology to address key challenges in decentralization, privacy, and programmability while integrating tokenization into the banking sector. The collaboration includes Microsoft Brazil, Banco Inter, and blockchain firm 7COMm to create a trade finance solution as part of DREX’s pilot. Chainlink will utilize its Cross-Chain Interoperability Protocol (CCIP) to facilitate secure, cross-border, cross-currency, and cross-chain transactions.
