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Central banks are evaluating Chainlink as a connecting infrastructure, not as a replacement for national currencies or domestic payment systems.

As part of a joint experiment between Brazil and Hong Kong, payments, trade documentation, and asset rights were synchronized across several independent platforms.

Singapores Guardian project demonstrated that tokenized funds can operate in parallel with the existing banking system and fiat settlements.

This trend is evident in experiments involving the Central Bank of Brazil, the Hong Kong Monetary Authority, Singapores Guardian project, SWIFT, UBS Asset Management, and the U.S. Department of Commerce.

These initiatives do not indicate widespread adoption by central banks. However, they explain why Chainlink continues to feature in experiments by the public sector and regulated financial circles.

A central bank could develop its own platform for a digital national currency or tokenized payments. It is more challenging to determine how such a platform would interface with foreign currencies, commercial banking systems, tokenized funds, trade documents, public blockchains, and established payment networks.

The Bank for International Settlements has concluded that there is no universal template for the cross-border interconnection of central bank digital currencies. Each jurisdiction has its own legal framework, access rules, policy objectives, privacy requirements, and technical architecture.

In its latest paper on tokenization, the BIS reaches a similar conclusion. It is likely that multiple registries will coexist, but fragmented systems could create isolated pools of money and assets unless institutions develop reliable methods for coordinating transactions between them. BMR warned that the benefits of tokenization depend not only on technology, but also on system interoperability, governance, and effective risk management. Its analysis is presented in a report on tokenization in payments and financial markets. , “detected_source_language “: “EN

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Chainlink solves this problem through a series of interconnected services.

It facilitates the transfer of messages and tokenized assets between different blockchain networks.

It coordinates workflows involving blockchains, APIs, payment messages, and external systems.

It provides verified external information for use by smart contracts.

It is designed to enforce identity, jurisdiction, and fund transfer policies prior to transaction execution.

Thus, this proposal goes beyond the conventional description of Chainlink as a price oracle. The project aims to become an orchestration layer for financial processes spanning multiple technological environments.

In October 2024, the Hong Kong Monetary Authority and the Central Bank of Brazil announced plans to connect Hong Kongs Ensemble Sandbox test environment with Brazils Drex pilot.

The collaboration focused on cross-border settlements under payment-versus-payment and delivery-versus-payment schemes. The first mechanism synchronizes the exchange of two currencies, while the second ensures that the transfer of an asset occurs simultaneously with its payment.

Banco Inter, Chainlink, and the Global Shipping Business Network participated in the subsequent trade finance pilot. As part of this initiative, the Drex platform was integrated with Ensembles Hong Kong-based infrastructure, a trade finance platform and electronic bill of lading system.

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