HKMA-BCB trade finance link could be gamechanger, says expert – Central Banking

A blockchain experiment linking central bank digital currencies with trade finance has the potential to boost global commerce, a digital trade adviser to the UN tells Central Banking. 

The Hong Kong Monetary Authority (HKMA) and the Central Bank of Brazil (BCB) completed the first international trade finance experiment using central bank digital currencies and smart contracts on October 31. 

The experiment linked Brazil’s wholesale CBDC Drex network with the HKMA’s Ensemble platform via Chainlink