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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 research involving the oracle’s new Cross-Chain Interoperability Protocol (CCIP) expertise.
The case research reportedly demonstrated that ANZ-issued stablecoins could possibly 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 could possibly be what catalyzes the adoption of tokenized property by establishments.
“The case research offered on this paper demonstrates that monetary establishments can present shoppers with safe entry to a variety of tokenized property and digital asset companies, even throughout completely different private and non-private blockchains. This will vastly simplify the consumer expertise of interacting with digital property whileproviding monetary establishments with a solution 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 customary 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 objectives we wished to realize have been achieved. We have been in a position to make use of SWIFT messages, a extensively used current banking customary for initiating blockchain occasions by way of CCIP, the cross-chain interoperability protocol made by the Chainlink community.
We have been additionally capable of join a number of non-public financial institution chains in order that completely different banks on their respective chains might transact with one another from their chains. And we have been capable of 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 objectives have been efficiently confirmed.”
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