The Central Bank of Brazil has launched the second phase of the Digital Money Drex pilot, with participation from Chainlink, Microsoft, and Banco Inter.

2024-11-19 14:14:46

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According to the news from TechFlow on November 19th, as reported by Cointelegraph, the Central Bank of Brazil (BCB) announced the launch of the second phase of the Digital Money Drex pilot program, in which Chainlink, Microsoft, and Banco Inter will jointly participate. This phase focuses on building trade finance solutions based on Oracle Machine and blockchain technology to optimize cross-border agricultural product trading and Supply Chain processes.

Chainlink will provide Cross-Chain Interaction Protocol (CCIP) to support secure cross-platform transactions and realize the blockchain-based Delivery versus Payment (DvP) mechanism. Microsoft is responsible for providing cloud infrastructure, while Brazilian Digital Bank Banco Inter will lead the landing of the Drex platform in Brazil. The pilot project will continue until 2025 and involve digital asset trading scenarios such as government bond liquidity pools and international trade, aiming to solve the ‘trilemma’ of Decentralization, privacy, and programmability.

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