The decentralized oracle service Chainlink (LINK) is teaming up with lending large Australia and New Zealand Banking Group (ANZ).
Based on a press launch from Chainlink, ANZ participated in a case research involving the oracle’s new Cross-Chain Interoperability Protocol (CCIP) know-how.
The case research reportedly demonstrated that ANZ-issued stablecoins may very well 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 may very well be what catalyzes the adoption of tokenized belongings by establishments.
“The case research introduced on this paper demonstrates that monetary establishments can present shoppers with safe entry to a variety of tokenized belongings and digital asset providers, even throughout totally different private and non-private blockchains. This will vastly simplify the consumer expertise of interacting with digital belongings whereas
offering monetary establishments with a technique to serve consumer demand with out substantial modifications to their current infrastructure…
Just like how interoperability requirements reworked the Web and international banking, a cross-chain interoperability normal might 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 properly.”
“All the important thing targets we needed to realize had been achieved. We had been ready to make use of SWIFT messages, a broadly used current banking normal 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 might 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 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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