The post ANZ Bank Explores Multi-Blockchain Transfers with A$DC Stablecoin Partnering Chainlink appeared on BitcoinEthereumNews.com.

ANZ, one of Australia’s top financial institutions, is exploring the movement of its A$DC stablecoin across multiple blockchains. ANZ has partnered with blockchain oracle firm Chainlink Labs and Singapore investment firm ADDX to delve into real-world asset tokenization. Nigel Dobson from ANZ emphasizes the highly fragmented nature of tokenized asset markets and the benefits of interoperability. ANZ Bank explores interoperable solutions for stablecoin and real-world asset tokenization to streamline financial markets and enhance cross-chain transactions. ANZ Joins Forces with Project Guardian and Chainlink Australia and New Zealand Banking Group (ANZ) has taken a significant step by joining Singapore’s Project Guardian. This collaboration aims to revolutionize financial markets through the tokenization of real-world assets (RWAs). The initiative, spearheaded by the Monetary Authority of Singapore since 2022, seeks to enhance market liquidity and operational efficiency. Partnership with Chainlink Labs and Interoperability Challenges ANZ has teamed up with blockchain oracle firm Chainlink Labs and Singapore investment firm ADDX to address the interoperability challenges of RWAs. Utilizing Chainlink’s Cross-Chain Interoperability Protocol (CCIP), ANZ aims to facilitate the seamless movement of its Australian dollar-backed A$DC stablecoin across different blockchains. According to Chainlink’s community liaison Zach Rynes, this technology can significantly streamline financial institutions’ integration processes. Nigel Dobson’s Insights on Market Fragmentation Nigel Dobson, ANZ’s banking services lead, notes that the current landscape of tokenized asset markets is highly fragmented. He sheds light on the complexity that financial institutions face in adopting these assets due to the lack of a unified interoperability protocol. By leveraging Chainlink’s CCIP, ANZ believes it can simplify and accelerate the integration of RWAs into mainstream financial services. Project Guardian’s Collaborative Framework Project Guardian stands out as a collaborative platform involving policymakers and financial industry leaders. Significant players like S&P Global, Deutsche Bank, and JPMorgan’s blockchain platform Onyx have participated in pilot…

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Filed under: News - @ October 1, 2024 1:13 am