Can digital settlement transform international trade?
NOVA School of Science and Technology | FCT NOVA, The Navigator Company, and Bison Bank announce the launch of a research project dedicated to evaluating digital settlement solutions applied to international trade.
The pilot project aims to analyze, in a progressive, controlled, and measurable way, the potential of an infrastructure based on digital or tokenized currency, referenced to fiat currency, in the context of a real international procurement operation.
The first use case will focus on a transaction between The Navigator Company and an international supplier. In a cross-border context, the effects of the solution on payments, financial reconciliation, transaction traceability, liquidity management, and the integration of programmable mechanisms will be analyzed.
Settlement corresponds to the effective liquidation of a financial obligation and the transfer of funds between parties. Despite the growing digitalization of companies, this process frequently remains dependent on fragmented infrastructures, multiple intermediaries, and successive validations.
In international trade, the coexistence of different jurisdictions, currencies, banking systems, and documentary requirements increases this complexity. Payments can remain in processing for several days, generating high costs, reduced visibility, greater risk exposure, and capital immobilization.
The use of digital assets referenced to fiat currency could reduce some of these frictions, enabling faster, traceable, and more predictable value transfers without compromising the stability necessary for business transactions.
One of the most innovative dimensions will be the analysis of programmable settlement through mechanisms that may include smart contracts. The goal is to evaluate how financial movement can be linked to the events that originate it, reducing manual tasks, delays, reconciliation errors, and execution risks.
However, the adoption of these solutions faces significant challenges, namely regarding interoperability between platforms, regulatory frameworks, security, and integration with existing systems. Trust among participants, economic incentives, and the acceptance of new operational models will also be decisive.
Technological feasibility alone does not guarantee adoption or value creation. It is therefore necessary to investigate these solutions with pragmatism and scientific rigor, identifying the benefits, risks, vulnerabilities, levers, and barriers that condition a safe and sustainable implementation.
The goal is not to assume that technology will solve all problems, but to produce evidence on where it creates value, what risks it introduces, and what still hinders its adoption.
Due to its applied nature and the combination of scientific, industrial, and financial expertise, the project is a pioneering initiative in Portugal. The research aims to produce evidence capable of supporting future decisions by companies, financial institutions, public policy makers, and other participants in international trade.
Faster, more transparent, programmable, and accessible settlement infrastructures could reduce the costs of participating in international trade, facilitate companies’ access to global markets, and contribute to more inclusive and competitive value chains.
It is at this intersection of technology, finance, and economics that the project positions itself, seeking to understand to what extent these infrastructures can reduce costs, risks, and capital needs in international operations, and under what conditions this potential can strengthen the capacity of Portuguese companies to compete in global markets.