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Chainlink teams up with ANZ for RWA tokenisation

Chainlink teams up with ANZ for RWA tokenisation

GrafaGrafa2024/10/01 23:25
By:Mahathir Bayena

Chainlink (LINK) has partnered with Australia’s ANZ Bank in a significant move to advance the tokenisation of real-world assets (RWAs). 

Announced on September 30, this collaboration aligns with the Monetary Authority of Singapore’s (MAS) Project Guardian, which aims to enhance digital finance. 

ANZ, one of Australia’s largest banks with over $750 billion in assets, has joined Project Guardian to explore broader access to tokenised RWAs in financial markets

Chainlink's Cross-Chain Interoperability Protocol (CCIP) will facilitate secure cross-chain exchanges of tokenised assets. 

This will enable interoperability between private blockchains and drive innovation in the digital asset space. 

Mark Evans, ANZ Singapore's head, emphasised MAS’s role as a global leader in digital finance, highlighting the bank's excitement to contribute to the project. 

He stated, “We’re pleased to join Project Guardian and play a role in fast-tracking the development of a stable, secure digital asset ecosystem.” 

Nigel Dobson, ANZ Banking Services Lead, noted that tokenised asset markets are currently fragmented due to the lack of interoperability between blockchains. 

This fragmentation, he explained, hinders broader adoption of tokenised assets and complicates integration for financial institutions. 

However, the collaboration with Chainlink will help the bank enhance its digital asset capabilities, such as its Australian dollar stablecoin (A$DC), first minted in March 2022. 

Project Guardian, launched by MAS in May 2022, initially aimed to explore the potential of decentralised finance (DeFi) in the financial sector. 

Since then, it has expanded its focus to include the tokenisation of real-world assets. 

According to rwa.xyz, the tokenised RWA market has grown by 53% this year, with $12.7 billion currently on-chain, led by private credit, which accounts for $9 billion of the total. 

Chainlink’s role in this initiative positions it as a key player in advancing digital asset tokenisation. 

At press time, the Chainlink price was $11.02.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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