Chainlink partners with Australian bank ANZ on the RWA tokenization initiative

On September 30, Chainlink Labs announced that it was officially partnering with ANZ, a leading Australian bank with over $750 billion (over AUD trillion) in assets under management.

The partnership is part of the Guardian Project of the central bank of Singapore (Monetary Authority of Singapore).

Chainlink will help enable secure cross-chain exchange of tokenized real-world assets (RWAs) through its Chain-to-Chain Interoperability Protocol (CCIP).

.@ChainlinkLabs is officially partnering with ANZ, a leading Australian bank with over A$1 trillion in AUM, in the Monetary Authority of Singapore’s Project Guardian.#Chainlink CCIP will help enable secure cross-chain exchange of tokenized RWAs. https://t.co/nlXJPJKjDv

— Chainlink (@chainlink) September 30, 2024

Chainlink Deeper Dive into RWA

ANZ announced joining the MAS project “to explore wider access to tokenized real-world assets in financial markets” and interoperability between private blockchains.

ANZ Singapore chief Mark Evans said MAS is a global leader in its commitment to digitize the financial system through industry collaboration before adding:

“We are pleased to join Project Guardian and play a role in accelerating the development of a stable and secure digital asset ecosystem, which will be essential to meet the future needs of our customers across the region.”

ANZ banking services leader Nigel Dobson noted that tokenized asset markets are “highly fragmented”, with related assets and services spanning different blockchains that are not natively interoperable.

“This can limit the adoption of tokenized assets while making the integration process for financial institutions complex,” he added.

He also mentioned that the collaboration would help the bank demonstrate its emerging digital asset capabilities, such as A$DC, an Australian dollar stablecoin first minted in March 2022.

The Guardian Project was launched by MAS in May 2022 to explore the potential of DeFi within the financial sector. The initiative has since expanded to include the tokenization of real-world assets.

There is currently $12.7 billion of RWA tokenized on the chain, according to rwa.xyz, with $9 billion in private credit. Additionally, RWA tokenization has seen a 53% growth since the beginning of this year.

LINK Price Reaction

Chainlink’s native token LINK did not react to ANZ’s partnership announcement. The asset is down 1.4% on the day, falling to $12.13 at the time of writing.

Like most altcoins, the asset has been hit hard over the past six months, down nearly 50% from its peak of nearly $22 earlier this year.

Despite a series of high-profile partnerships and ongoing protocol development, LINK prices continue to fall 77% from their all-time high of $52.70 in May 2021.

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