Cosmos Labs, Peersyst, and LNET Partner on CBWeb3 to Advance Cross-Border Tokenized Finance in Latin America
A region moving on digital currency infrastructure
Cosmos and Peersyst Technology have signed a Memorandum of Understanding (MOU) with LNET to collaborate on the CBWeb3 Project, an initiative focused on interoperability for tokenized financial assets across LATAM. CBWeb3 is funded by the Inter-American Development Bank (IDB), whose mandate is to support financial innovation and development across Latin America and the Caribbean.
The program brings central banks and financial institutions together and the goal it works toward is a regional blueprint for modernizing financial infrastructure.
Explaining the CBWeb3 Initiative
CBWeb3 is organized around a practical question: how can digital central bank money operate across borders while preserving monetary sovereignty, security, and economic connectivity?
The collaboration is structured within an academic and exploratory framework, giving participating counterparties a defined environment in which to examine how multiple blockchain networks can interact. Another goal of this partnership is to identify potential future use cases in cross-border payments, settlement systems, and financial asset tokenization.
Within that framework, Cosmos Labs contributes its expertise in blockchain interoperability and institutional-grade infrastructure to support a connected financial ecosystem across the region. The CBWeb3 project will use Cosmos’s interoperability framework, the Inter-Blockchain Communication Protocol (IBC), an open standard for interoperability that allows independent digital ledgers to communicate through point-to-point connections that each party runs on its own infrastructure.
With its institutional-grade blockchain implementation experience, Peersyst enables its resilient technology to meet the operational demands of CBWeb3. As an active technical contributor to CBWeb3, Peersyst will lead the integration of Cosmos IBC in the pilot environment.
About the Organizations
LNET
LNET is a non-profit organization that supports the institutional adoption of blockchain and digital trust infrastructure through open standards, regulatory alignment, and collaborative governance. It works with governments, multilateral organizations, financial institutions, and technology partners to design and operate trusted digital infrastructure for use cases including digital identity, verifiable credentials, traceability, tokenization, and financial innovation.
“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, 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.”
Mariana Kotik, Chief Strategy Officer at LNET
Cosmos Labs
Cosmos Labs is the company behind Cosmos, the digital ledger technology stack that powers more than 150 independent blockchains across finance, payments, and global commerce. Cosmos Labs is a wholly-owned subsidiary of the Interchain Foundation, the Swiss non-profit that supports the funding of the Cosmos technology.
With the Cosmos stack, institutions and governments have the infrastructure to build connected, independently operated digital ledgers.
"This partnership shows how collaborative innovation is essential to shaping the future of global finance. 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."
Barry Plunkett, Co-CEO of Cosmos Labs
Peersyst Technology
Peersyst Technology is a blockchain development company that designs and implements institutional-grade infrastructure for governments, financial institutions, and enterprises. Its focus areas include tokenization, and the modernization of digital financial infrastructure.
"Latin America is leading in financial innovation, and this collaboration highlights the region’s dedication to pioneering advanced solutions for monetary infrastructure. We look forward to providing resilient technology capable of supporting the demands of CBWeb3."
Ferran Prat, CEO of Peersyst
What CBWeb3 brings to Latin America and the Caribbean
For central banks and financial institutions in the region, CBWeb3 provides pillars that map directly to how institutions should evaluate new monetary infrastructure and tokenized assets.
- Sovereignty: Central banks will preserve monetary sovereignty over their digital currency. Each participating central bank retains issuance control, governs its own monetary policy and exchange rate regime, and maintains the legal tender status of the currency it issues. CBWeb3 is designed so that each central bank issues and operates its own digital currency, with IBC providing interoperability between networks and every central bank continuing to control its currency from issuance through settlement.
- Cross-border transactions: CBWeb3 focuses on wholesale cross-border transaction between two participating networks. It is meant to demonstrate that central banks can settle cross-border transactions directly in their own digital currencies, with cross-border payments, settlement systems, and financial asset tokenization as the broader use cases the program is designed to evaluate.
- Robust infrastructure: The Cosmos technology stack has been live in production since 2019 and powers more than 150 independent digital ledgers. The codebase is open source and auditable, with years of continuous production use behind it. For central banks evaluating infrastructure for sensitive monetary applications, that combination addresses two of the criteria they typically raise first: operational track record, and full transparency of the underlying code.
CBWeb3 is an active program, with more to share as the collaboration progresses. To speak with the Cosmos Labs team about how this works, or to go deeper into Cosmos infrastructure, contact us.
