Banking Giant in Australia Uses Chainlink To Explore Tokenized Assets

Tokenized asset purchases have been tested by ANZ Bank using Chainlink’s cross-chain interoperability protocol.

In order to practice buying tokenized assets, the Australia and New Zealand Banking Group (ANZ) has just announced its implementation of Chainlink’s cross-chain interoperability protocol (CCIP).

“Recently, ANZ collaborated with Chainlink CCIP to simulate the purchase of a tokenized asset using A$DC and an ANZ-issued stablecoin priced in New Zealand dollars,” according to the statement.

ANZ Portfolio Lead Nigel Dobson has made a statement explaining the company’s interest in decentralized networks. He notes that institutional investors are becoming more optimistic about tokenized assets.

According to Dobson, this dispersion of assets and services across blockchains is a result of the fact that the industry is still in the early stages. He thinks effort is needed to make things run more smoothly.

Dobson argues that a solution may be found in Chainlink’s Cross-Chain Interoperability Protocol (CCIP). He argues that it allows banks to connect different blockchain networks and serves as the industry standard for blockchain interoperability.

The partnership between ANZ and Chainlink CCIP was for a trial transaction. This proved, using A$DC and ANZ’s NZ-dollar stablecoin, the viability of a safe cross-chain settlement of tokenized assets.

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