Guess what? Chainlink, the top dog in blockchain oracle solutions, has just teamed up with ANZ, one of Australia's financial giants! That's right, folks, on September 30th, Chainlink Labs spilled the beans about their new partnership with ANZ, which boasts a jaw-dropping $750 billion (yep, that's over a trillion Aussie dollars) in assets under management.
This isn't just any partnership; it's part of the Monetary Authority of Singapore's Project Guardian. So what’s the goal? Chainlink's Cross-Chain Interoperability Protocol (CCIP) will enable the secure swapping of tokenized real-world assets (RWAs) across different blockchains. Imagine trading assets like never before – that's what we're talking about!
ANZ is diving into this project to open doors to a wider world of tokenized assets and make different blockchains play nice with each other. ANZ Singapore's head honcho, Mark Evans, praised the MAS for leading the charge in digitizing the financial system and expressed excitement about fast-tracking a stable and secure digital asset ecosystem.
Nigel Dobson, ANZ's Banking Services Lead, pointed out the current chaos in tokenized asset markets. Different blockchains often don't get along, making things messy for financial institutions. This collaboration aims to untangle that web and show off ANZ's growing digital asset capabilities, including their Aussie dollar stablecoin, A$DC, first minted in March 2022.
Project Guardian, launched by the MAS in May 2022, is all about exploring the brave new world of DeFi in finance. Since its inception, the project has grown to include real-world asset tokenization. As of now, there’s a whopping $12.7 billion worth of RWAs tokenized on-chain, with private credit making up $9 billion of that. And guess what? RWA tokenization has surged by 53% since the start of the year!
But hold your horses – Chainlink’s native token, LINK, didn't exactly pop the champagne over the news. In fact, it slipped by 1.4% on the day, landing at $12.13. The crypto market's been a bit rough lately, with LINK dropping nearly 50% from its earlier high of almost $22 this year. Despite a slew of big-name partnerships and ongoing developments, LINK is still climbing back up from a 77% drop from its all-time high of $52.70 in May 2021.
Stay tuned, folks! The crypto world never stops spinning, and this Chainlink-ANZ partnership is just the latest twist in the tale.
