The decentralized oracle service Chainlink (LINK) is teaming up with lending large Australia and New Zealand Banking Group (ANZ).
In response to a press launch from Chainlink, ANZ participated in a case examine involving the oracle’s new Cross-Chain Interoperability Protocol (CCIP) know-how.
The case examine reportedly demonstrated that ANZ-issued stablecoins might be transferred cross-chain through CCIP to buy nature-based belongings.
In a paper launched by Chainlink Labs in collaboration with ANZ, the authors say that CCIP might be what catalyzes the adoption of tokenized belongings by establishments.
“The case examine introduced on this paper demonstrates that monetary establishments can present purchasers with safe entry to a variety of tokenized belongings and digital asset companies, even throughout totally different private and non-private blockchains. This will vastly simplify the person expertise of interacting with digital belongings whereas
offering monetary establishments with a strategy to serve shopper demand with out substantial modifications to their present infrastructure…
Much like how interoperability requirements remodeled the Web and international banking, a cross-chain interoperability customary may speed up the adoption of tokenized belongings amongst monetary establishments.”
In June, SWIFT introduced it was testing blockchain interoperability with over a dozen monetary establishments on the Chainlink community.
In a brand new interview on CNBC, Chainlink creator Sergey Nazarov says that the collaboration with SWIFT was going “very effectively.”
“All the important thing targets we needed to attain had been achieved. We had been in a position to make use of SWIFT messages, a broadly used present banking customary for initiating blockchain occasions via CCIP, the cross-chain interoperability protocol made by the Chainlink community.
We had been additionally capable of join a number of personal financial institution chains in order that totally different banks on their respective chains may transact with one another from their chains. And we had been capable of join these personal financial institution chains to public chains in order that these personal banks may additionally transact with public chain contracts like DeFi (decentralized finance). And so all three of these targets had been efficiently confirmed.”
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