On Sept. 30, Chainlink Labs announced that it was officially partnering with ANZ, a leading Australian bank with over $750 billion (more than a trillion AUD) in assets under management.<\/p>\n
The partnership is part of the Singaporean central bank\u2019s (Monetary Authority of Singapore) Project Guardian.<\/p>\n
Chainlink will help enable the secure cross-chain exchange of tokenized real-world assets<\/a> (RWAs) via its Cross-Chain Interoperability Protocol (CCIP).<\/p>\n .@ChainlinkLabs<\/a> is officially partnering with ANZ\u2014a leading Australian bank with over A$1 trillion in AUM\u2014in the Monetary Authority of Singapore\u2019s Project Guardian.#Chainlink<\/a> CCIP will help enable the secure cross-chain exchange of tokenized RWAs. https:\/\/t.co\/nlXJPJKjDv<\/a><\/p>\n \u2014 Chainlink (@chainlink) September 30, 2024<\/a><\/p>\n\n ANZ announced<\/a> the joining of the MAS project \u201cto explore broader access to tokenized real-world assets in financial markets\u201d and interoperability between private blockchains.<\/p>\n ANZ Singapore head, Mark Evans, said that MAS is a global leader in its commitment to digitizing the financial system through industry collaboration before adding:<\/p>\n \u201cWe\u2019re pleased to join Project Guardian and play a role in fast-tracking the development of a stable, secure digital asset ecosystem, which will be essential to meeting the future needs of our customers across the region.\u201d<\/p>\n ANZ Banking Services Lead Nigel Dobson noted that tokenized asset markets are \u201chighly fragmented,\u201d with assets and related services spanning different blockchains that are not natively interoperable.<\/p>\n \u201cThis can limit the adoption of tokenized assets while making the integration process for financial institutions complex,\u201d he added.<\/p>\n He also mentioned that the collaboration would help the bank demonstrate its emerging digital assets capabilities such as A$DC, an Australian dollar stablecoin first minted in March 2022.<\/p>\n Project Guardian was launched by the MAS in May 2022 to explore the potential of DeFi within the financial sector. The initiative has since expanded to include real-world asset tokenization.<\/p>\n There is currently $12.7 billion worth of RWA tokenized on-chain, according<\/a> to rwa.xyz, with private credit the lion\u2019s share at $9 billion. Moreover, RWA tokenization has seen a 53% growth since the beginning of this year.<\/p>\n Chainlink\u2019s native token, LINK, did not react to the ANZ partnership announcement. The asset has shed 1.4% on the day, falling to $12.13 at the time of writing.<\/p>\n Like most altcoins<\/a>, the asset has been hit hard for the past six months, dropping almost 50% from its high of almost $22 earlier this year.<\/p>\n Despite a number of high-profile partnerships and continual protocol development, LINK prices<\/a> remain down 77% from their all-time high of $52.70 in May 2021.<\/p>\n The post Chainlink Partners With Australian Bank ANZ in RWA Tokenization Initiative<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" On Sept. 30, Chainlink Labs announced that it was officially partnering with ANZ, a leading Australian bank with over $750 billion (more than a trillion AUD) in assets under management. The partnership is part of the Singaporean central bank\u2019s (Monetary Authority of Singapore) Project Guardian. Chainlink will help enable the secure cross-chain exchange of tokenized […]<\/p>\n","protected":false},"author":0,"featured_media":10816,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-10815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/10815"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10815"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/10815\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/10816"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Chainlink Diving Deeper into RWA<\/h2>\n
LINK Price Reaction<\/h2>\n