Key Takeaways:
- ANZ Bank joins Singapore’s Project Guardian to explore tokenizing real-world assets (RWAs) using blockchain.
- The project will utilize Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to enable seamless asset transfers between blockchains.
- ANZ aims to enhance the interoperability of its Australian dollar-backed stablecoin, A$DC, across multiple networks.
Australia and New Zealand Banking Group (ANZ) has joined Singapore’s Project Guardian, an initiative launched by the Monetary Authority of Singapore in 2022, to explore tokenizing real-world assets (RWAs) within financial markets.
ANZ, one of Australia’s largest banks, is working with blockchain oracle provider Chainlink Labs and investment firm ADDX to examine how assets like commercial papers can be tokenized and transferred across multiple blockchains.
.@ChainlinkLabs is officially partnering with ANZ—a leading Australian bank with over A$1 trillion in AUM—in the Monetary Authority of Singapore's Project Guardian.#Chainlink CCIP will help enable the secure cross-chain exchange of tokenized RWAs. https://t.co/nlXJPJKjDv
— Chainlink (@chainlink) September 30, 2024
ANZ aims to improve the movement of its Australian dollar-backed stablecoin (A$DC) using Chainlink’s Cross-Chain Interoperability Protocol (CCIP), addressing the challenge of fragmented tokenized asset markets.
The project seeks to boost liquidity and efficiency in the financial sector by facilitating seamless blockchain interoperability.
One of the largest banks in Australia (ANZ Bank) is partnering with #Chainlink Labs on using CCIP for cross-chain tokenized asset use cases 🔥
— Zach Rynes | CLG (@ChainLinkGod) September 30, 2024
This comes as ANZ Bank joins the Monetary Authority of Singapore’s Project Guardian initiative for tokenized assets https://t.co/ILCsCKEX5I pic.twitter.com/EDuYWXHAPb
Other major global financial institutions, such as Deutsche Bank, JPMorgan, and S&P Global, are also involved in Project Guardian’s pilots, which include participants from various countries and international organizations like the International Monetary Fund.
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