KEY TAKEAWAYSChainlink, Microsoft, and Banco Inter aim to enhance Drexs trade finance capabilities using blockchain interoperability.The initiative demonstrates using Chainlinks CCIP to connect Drexs blockchain with global financial systems.Tokenized assets like the eBoL will drive automation, improving supply chain transparency and transaction efficiency.On Tuesday, Chainlink partnered with Microsoft and 7COMm to create a trade finance solution for the second phase of Drex, Brazils central bank digital currency (CBDC).This collaboration includes Brazilian companies like Banco Inter, one of the countrys top digital banks, which contributed to the first phase of Drex by tokenizing public debt securities.Chainlinkautomate supply chain management and improve trade financing within the Drex ecosystem.The initiative integrates Chainlinks Cross-Chain Interoperability Protocol (CCIP) to connect Drex with a foreign central bank, ensuring efficient and compatible transaction settlements.As part of this initiative, Chainlinks CCIP will enable interoperability between the Brazilian Central Banks Drex and a foreign central bank, ensuring that transactions are compatible and settled efficiently.Drex Use Cases Whats It Good For?The consortium, featuring Banco Inter, Microsoft, and Chainlink, focuses on automatic transaction settlement for cross-border agricultural commodity trade.Chainlinks CCIP enables Drexs blockchain to interoperate seamlessly with external central bank infrastructures, ensuring frictionless settlements.Chainlink facilitates this process by tokenizing the Electronic Bill of Lading (eBoL) and utilizing supply chain data to trigger payments during the export process.This system also unlocks Delivery versus Payment (DvP) and Payment versus Payment (PvP) mechanisms while ensuring interoperability between Chainlinks blockchain and Hyperledger Besu, the platform used for Drex testing.Chainlink CCIP The Future of dApps?Chainlinks CCIP allows seamless token and data transfers between blockchain networks, offering a unified interface for decentralized applications (dApps).This feature enhances blockchain adoption and integration with existing backend systems while increasing market liquidity and access.For Drex, CCIP connects Hyperledger Besu with other EVM and non-EVM networks, driving interoperability and expanding the ecosystem.Banco Inter leads the implementation of the solution on Drexs platform, aiming to transform Brazils financial market.Bruno Grossi, Head of Emerging Technologies at Banco Inter, sees the project as a milestone that strengthens the market and expands its reach through collaboration with Microsoft and Chainlink Labs.We see collaborating in this project with technology leaders like Microsoft and Chainlink Labs as a transformative opportunity to expand market reach and improve the health of the Brazilian market. Bruno GrossiDrexs Leadership and Vision Could Evolve the IndustryMicrosoft provides cloud infrastructure to support Drexs development and expand access to intelligent financial services.Joo Arago, Microsofts Financial Services Innovation Specialist, emphasized the companys commitment to driving economic growth through Drex.7COMm contributes technical expertise to implement practical and transformative blockchain solutions. Sergio Yamani, 7COMms Director of Innovation, highlighted the transformative potential of CBDCs and blockchain interoperability.By integrating CCIP, the project establishes a new standard for global transactions while promoting transparency, security, and accessibility.This initiative positions Brazil as a global leader in blockchain innovation. This showcases how technology can transform trade finance and strengthen the economy.The advent of CBDCs, the development of blockchain interoperability protocols such as CCIP, and the use of CBDCs for cross-border payments enable a new generation of blockchain trade finance solutions. Bruno GrossiReferencesClick to expand and view referencesChainlink joins Banco Inter, Microsoft and 7Comm consortium to support trade finance use case in phase 2 of Drex pilot (PR News Wire)What is Drex and how it will change your life (Inter)Drex Pilot (Brazilian Government)Add Techreport to Your Google News Feed Get the latest updates, trends, and insights delivered straight to your fingertips. Subscribe now! Subscribe now Cassio Gusson is a journalist passionate about technology, cryptocurrencies, and the nuances of human nature. With a career spanning roles as Senior Crypto Journalist at CriptoFacil and Head of News at CoinTelegraph, he offers exclusive insights on South Americas crypto landscape. A graduate in Communication from Faccamp and a post-graduate in Globalization and Culture from FESPSP, Cassio explores the intersection of governance, decentralization, and the evolution of global systems. View all articles by Cassio Gusson Our editorial processThe Tech Reporteditorial policyis centered on providing helpful, accurate content that offers real value to our readers. We only work with experienced writers who have specific knowledge in the topics they cover, including latest developments in technology, online privacy, cryptocurrencies, software, and more. Our editorial policy ensures that each topic is researched and curated by our in-house editors. We maintain rigorous journalistic standards, and every article is 100% written byreal authors.