Chainlink Collaborates with ANZ for Cross-Chain Interoperability
The decentralized oracle service Chainlink (LINK) has announced a partnership with Australia and New Zealand Banking Group (ANZ). The collaboration involved a case study on Chainlink’s Cross-Chain Interoperability Protocol (CCIP) technology.
ANZ Case Study Demonstrates Tokenized Asset Settlement
The case study conducted by ANZ showed that stablecoins issued by the bank could be transferred cross-chain using CCIP. These stablecoins were used to purchase nature-based assets.
CCIP Adoption Could Catalyze Institutional Tokenized Assets
In a joint paper by Chainlink Labs and ANZ, the authors state that CCIP could drive the adoption of tokenized assets by institutions. They believe that CCIP can simplify user experiences and allow financial institutions to meet client demand without major infrastructure changes.
SWIFT and Chainlink Collaboration Progressing Well
In June, SWIFT announced its testing of blockchain interoperability with several financial institutions on the Chainlink network. Sergey Nazarov, the creator of Chainlink, recently mentioned in an interview that the collaboration with SWIFT is going “very well.” The goals of using SWIFT messages, connecting private bank chains, and linking them to public chains have been successfully achieved through CCIP.
Hot Take: Chainlink’s Growing Influence in Financial Partnerships
Chainlink’s partnership with ANZ demonstrates its growing influence in the financial sector. By enabling cross-chain interoperability and facilitating tokenized asset settlement, Chainlink is paving the way for wider adoption of blockchain technology in traditional finance. The successful collaboration with SWIFT further solidifies Chainlink’s position as a key player in the industry. As more institutions recognize the benefits of decentralized oracle services, Chainlink is likely to continue forging strategic partnerships to drive innovation and efficiency in the financial ecosystem.
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