Cosmos Labs, the company behind the Cosmos digital ledger technology and interoperability solutions, and Peersyst Technology, a blockchain development and technology company, announced that they have signed a Memorandum of Understanding (MOU) with LNET to collaborate on the CBWeb3 Project. The initiative focuses on exploring interoperability for Central Bank Digital Currencies (CBDCs) and tokenized financial assets across Latin America.
The CBWeb3 Project is a step forward in the evolution of Latin America’s digital financial landscape by bringing together central banks and financial institutions to assess how digital central bank money can flow across regional and country-specific networks while maintaining monetary sovereignty, security, and economic connectivity. This study on cross-regional interoperability aims to develop a blueprint for modernizing financial infrastructure across the region. CBWeb3 is funded by the IDB Lab, and aims to explore new digital infrastructure models for the financial system in Latin America and the Caribbean.
Cosmos Labs will contribute its expertise in interoperability and institutional-grade infrastructure, supporting the development of shared capabilities, technical knowledge, and lessons learned to help strengthen the future of regional financial infrastructure across Latin America. As one of the technology partners contributing to CBWeb3, Cosmos Labs will provide one of the participating network environments used to test cross-network interoperability and cross-border settlement scenarios. Its Cosmos technology stack and Inter-Blockchain Communication Protocol will support these tests alongside other networks, technologies, and technical partners involved in the initiative.
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This collaboration will enable multiple central banks in the region to examine how sovereign digital currency networks can interact seamlessly and identify future use cases in cross-border payments, settlement systems, and financial asset tokenization.
“The value of CBWeb3 lies in bringing together institutions, financial actors and technology partners to test different approaches in a collaborative and technology-neutral environment. Cosmos Labs’ contribution provides valuable infrastructure and interoperability expertise for these testing scenarios, as part of a broader multi-partner effort to generate practical evidence and shared learning for the future of cross-border financial infrastructure in Latin America and the Caribbean,” said Mariana Kotik, Chief Strategy Officer at LNET.
“This partnership shows how collaborative innovation is essential to shaping the future of global finance,” said Barry Plunkett, Co-CEO of Cosmos Labs. “Cosmos Labs is excited for the opportunity to help demonstrate how digital ledger technology can drive more efficient, transparent, and connected financial systems across Latin America.”
“Latin America is leading in financial innovation, and this collaboration highlights the region’s dedication to pioneering advanced solutions for monetary infrastructure,” said Ferran Prat, CEO of Peersyst. “We look forward to providing resilient technology capable of supporting the demands of CBWeb3.”
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