ANZ Bank Successfully Completes Test Transaction Using Chainlink’s Cross-Chain Interoperability Protocol
An update from ANZ Bank’s Nigel Dobson, the banking services portfolio lead, revealed that the bank has successfully completed a test transaction using Chainlink’s Cross-Chain Interoperability Protocol (CCIP). The transaction utilized the bank’s digital asset services technology stack and CCIP to transfer data and value between public or private blockchain environments. CCIP was launched in July and has been available for early access users on several blockchains, including Avalanche, Ethereum, Optimism, and Polygon.
“ANZ recently worked with Chainlink CCIP to complete a test transaction to simulate the purchase of a tokenized asset, facilitated using A$DC and an ANZ-issued NZ-dollar-denominated stablecoin.”
The test transaction involved ANZ’s native stablecoin, A$DC, which is fully collateralized by the Australian dollar and can be redeemed at par with funds held in an ANZ-managed reserve account.
Dobson: “Important Milestone for ANZ”
ANZ Bank is actively exploring decentralized networks through a “test-and-learn” approach. In June, the bank used its stablecoin, A$DC, to purchase digital representations of Australian carbon credits. Nigel Dobson stated that such deals have provided valuable lessons for the bank to further explore use-cases. He also mentioned that ANZ sees this collaboration with Chainlink as an important milestone and is looking forward to participating in further industry work.
“While the technology solutions are still emerging, this collaboration is another important milestone for ANZ – showing the feasibility of technical interoperability, which can serve as a basis for further work on customer-led transactions.”
Hot Take: ANZ Bank Advances in Digital Asset Integration
ANZ Bank has achieved a significant milestone by successfully conducting a test transaction using Chainlink’s Cross-Chain Interoperability Protocol. This collaboration demonstrates the feasibility of technical interoperability and opens up possibilities for future customer-led transactions. ANZ’s exploration of decentralized networks through a “test-and-learn” approach highlights their commitment to staying at the forefront of digital asset integration. With the continued adoption of digital assets, ANZ expects to see multiple assets across various blockchain networks, signaling the need for further advancements and partnerships in this space.
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