ANZ partners with Project Guardian to explore tokenizing real-world assets, using Chainlink’s Cross-Chain Interoperability Protocol for blockchain integration.
Australia and New Zealand Banking Group (ANZ) have joined Singapore’s Project Guardian to explore real-world asset (RWA) tokenization, aiming to enhance liquidity and financial market efficiency. In collaboration with Chainlink Labs and ADDX, ANZ plans to test how tokenized assets like commercial papers can operate seamlessly across blockchains, using Chainlink’s Cross-Chain Interoperability Protocol (CCIP). This partnership marks a significant step towards improving the fragmented nature of RWA markets.
Key Points:
ANZ Joins Project Guardian: ANZ has become the latest participant in Singapore’s Project Guardian, aiming to tokenize real-world assets for improved liquidity and financial market efficiency.
Exploring Cross-Chain Asset Movement: ANZ will test how its A$DC stablecoin can be transferred between blockchains, using Chainlink’s Cross-Chain Interoperability Protocol to enhance cross-chain operations.
Addressing Fragmented Markets: Nigel Dobson from ANZ noted that current tokenized markets are fragmented, and interoperability protocols like CCIP are key to broader adoption and ease of integration for financial institutions.
On-the-Ground Support in Singapore: ANZ will receive direct support from Project Guardian’s office in Singapore, strengthening its efforts in asset tokenization.
ANZ’s involvement in Project Guardian highlights the growing momentum around real-world asset tokenization. With the support of Chainlink’s CCIP, ANZ aims to solve the fragmentation issues currently hindering the seamless movement of tokenized assets between blockchains, paving the way for enhanced liquidity and efficiency in financial markets.
Source: Cointelegraph
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