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The decentralized oracle service Chainlink (LINK) is teaming up with lending large Australia and New Zealand Banking Group (ANZ).
In keeping with 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 may very well be transferred cross-chain through CCIP to buy nature-based property.
In a paper launched by Chainlink Labs in collaboration with ANZ, the authors say that CCIP may very well be what catalyzes the adoption of tokenized property by establishments.
“The case examine offered on this paper demonstrates that monetary establishments can present purchasers with safe entry to a variety of tokenized property and digital asset providers, even throughout totally different private and non-private blockchains. This may vastly simplify the consumer expertise of interacting with digital property whileproviding monetary establishments with a option to serve shopper demand with out substantial modifications to their current infrastructure…
Just like how interoperability requirements remodeled the Web and world banking, a cross-chain interoperability normal might speed up the adoption of tokenized property 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 nicely.”
“All the important thing targets we needed to attain had been achieved. We had been ready to make use of SWIFT messages, a broadly used current banking normal for initiating blockchain occasions by means of CCIP, the cross-chain interoperability protocol made by the Chainlink community.
We had been additionally in a position to join a number of non-public financial institution chains in order that totally different banks on their respective chains might transact with one another from their chains. And we had been in a position to join these non-public financial institution chains to public chains in order that these non-public banks might 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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