Australian Bank Partners With Chainlink To Explore Blockchain Interoperability For Tokenized Assets

The Australia and New Zealand Banking Group (ANZ) is partnering with Singapore-based Guardian Venture to discover the advantages of real-world asset (RWA) tokenization in monetary markets. The initiative is a part of ANZ’s broader efforts to experiment with blockchain expertise because the financial institution appears to be like to enhance the motion of tokenized belongings throughout numerous blockchain networks.

In a press launch on September 30, ANZ introduced its partnership with Chainlink Labs and ADDX, a Singapore-based funding agency, to check how tokenized belongings resembling business paper can work collectively throughout blockchains. The mission entails utilizing Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to allow smoother transactions between completely different blockchain networks.

The Guardian Venture, initiated by the Financial Authority of Singapore (MAS), goals to discover and enhance monetary market infrastructure via using asset tokenization and decentralized finance (DeFi) options. The mission collaborates with a number of worldwide regulators, together with the UK Monetary Conduct Authority, the Japanese Monetary Companies Company, the Swiss Monetary Markets Supervisory Authority and the Banque de France. It additionally entails trade gamers resembling DBS Financial institution, JP Morgan, Deutsche Financial institution and different monetary establishments, who’re launching pilot initiatives to discover completely different components of tokenization and DeFi purposes.

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