BTguru and Chainlink team up to advance tokenization in Turkey

BTguru, a virtual and crypto asset provider in Turkey, has partnered with Chainlink to accelerate the adoption of tokenized securities by institutions.

BTguru said in its announcement that the partnership will strengthen Chainlink’s (LINK) interoperability protocol, data feeds and proof-of-reserve technology.

As part of the integration, BTguru will work with Turkish-regulated financial institutions to incorporate Chainlink’s Cross-Chain Interoperability Protocol and other technology infrastructure into its digital asset solutions.

The integration aims to solve the key challenges that institutions face when entering the tokenized asset market. BTguru plans to launch this solution in the coming months, offering users enhanced security, data connectivity, reliability, interoperability and asset benefit.

“The Chainlink standard will help BTguru provide financial institutions with the tools they need to unlock the full potential of tokenized assets, while ensuring compliance and security at every step,” BTguru managing partner Can Bükulmez said in a statement.

The collaboration will provide banks and other institutions with secure access to critical indicators such as price data, evidence of reserves, net asset value and identity information. Chainlink’s oracle network enables off-chain connectivity and cross-chain interoperability by offering multi-chain synchronization of tokenized asset data.

David Fuchs, head of EMEA business development at Chainlink Labs, said the partnership will unlock new opportunities in the tokenized assets sector for BTguru.

“Chainlink will enable BTguru to not only meet stringent compliance and security requirements for enterprise-grade digital assets, but also foster innovation and trust in the growing tokenized asset economy,” Fuchs added.

Crypto platforms that have recently connected to Chainlink’s oracle network include Aptos mainnet and Ripple for stablecoin RLUSD.

In July 2024, USDT issuer Tether announced that it was working with BTguru to explore the adoption of RWA for Türkiye-based banks.