Banco Inter automates cross-border trade finance with digital currency platform

Banco Inter, a Brazilian digital bank, collaborated with Microsoft Brazil, Chainlink, and 7COMm to deliver an automated trade finance platform using the Central Bank of Brazil's (BCB) digital currency Drex. This initiative, part of the BCB's second phase in piloting CBDC adoption, specifically aims to automate settlement of agricultural commodity transactions across currencies and borders. By using Chainlink's Cross-Chain Interoperability Protocol (CCIP), the platform offers secure cross-chain, cross-currency transactions compatible with Drex, enhancing interoperability with foreign central banks’ systems. Microsoft Brazil provides the cloud infrastructure and technological guidance, allowing seamless integration of blockchain technology with legacy banking systems. The project addresses longstanding inefficiencies in cross-border trade, unlocking greater liquidity in Brazil's markets and boosting accessibility to global digital economies. The joint implementation demonstrates tangible advancements for smart supply chain management, increased transparency, and market reach for Brazilian enterprises. The platform streamlines the entire trade finance process, reducing manual intervention and enabling end-to-end digitization. As a result, Banco Inter sees this as transformative for the nation's financial market health, while the technical architecture allows for scalable expansion across new assets and countries.