Chainlink Now Powers the Cross-border DvP Settlement Between the Central Bank of Brazil and the Hong Kong Monetary Authority

Chainlink announced via X on Monday that it now powers the cross-border DvP settlement between the Central Bank of Brazil and the Hong Kong Monetary Authority, alongside Banco Inter, Standard Chartered, GSBN, & 7COMm in the Drex program.

In phase two of the Central Bank of Brazil’s (BCB) Drex project, which is focused on cross-border trade, Chainlink connected BCB with the Hong Kong Monetary Authority (HKMA) to orchestrate seamless and secure trade settlement across jurisdictions in a compliant manner.

Chainlink powers the DvP solution end-to-end and enables conditional, installment-based payments for goods via different digital currencies and tokenized reserves with Chainlink Runtime Environment (CRE) and Chainlink CCIP.

Chainlink Network (LINK) aims to provide tamper-proof inputs and outputs of data for smart contracts on any blockchain. LINK is down 5.2% over the past 24 hours and is trading at $14.69 at press time.