Chainlink and Microsoft Collaborate on Brazil’s Digital Currency Project

Chainlink, Microsoft, and Banco Inter have joined forces to advance Brazil's central bank digital currency (CBDC) initiative, Drex. In the second phase of this pilot project, Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and Microsoft’s cloud technology will play a pivotal role in enhancing trade finance automation.

CCIP enables secure and seamless asset transfers across blockchain networks, simplifying complex processes in trade finance while reducing operational costs. By integrating these cutting-edge technologies, the collaboration aims to create a scalable and interoperable infrastructure for CBDC applications, potentially transforming how digital currencies are implemented globally.

This partnership highlights the growing role of blockchain and tech giants in revolutionizing financial systems. It also demonstrates the potential for CBDCs to streamline transactions and drive innovation in emerging economies.