ANZ partners with Chainlink to achieve cross-chain tokenized asset settlement.

The Australia and New Zealand Banking Group (ANZ), with total assets exceeding 1 trillion USD, collaborates with the oracle project Chainlink to utilize Chainlink's transmission protocol CCIP (Cross-Chain Interoperability Protocol) to achieve cross-chain, cross-currency settlement. This collaboration enables the synchronous delivery versus payment (DvP) of purchasing tokenized assets using stablecoins issued by ANZ on different blockchains and in different currencies. Chainlink

The Infinite Potential of Tokenized Markets

The potential of tokenized asset markets is enormous. According to a report by the Boston Consulting Group (BCG) in 2022, it is estimated that the total value of tokenized assets will reach $16 trillion by 2030, equivalent to 10% of global GDP.

Traditional financial records have evolved from paper to electronic, and are ultimately moving towards tokenization.

What is CCIP?

CCIP is the Cross-Chain Interoperability Protocol introduced by Chainlink. It provides project teams with a transmission infrastructure designed based on the oracle framework, allowing for a more secure integration of information across different networks.

CCIP enables financial institutions to securely communicate and settle assets across different public and private blockchains, offering programmable token transfers, liquidity aggregation, and fast integration to enhance user experience and transaction efficiency.

More about CCIP

ANZ's Collaboration with Chainlink

ANZ Bank, with total assets exceeding $1 trillion, collaborated with Chainlink to successfully demonstrate how ANZ customers can securely transfer ANZ-issued stablecoins across chains to purchase tokenized assets using CCIP.

In this test, ANZ users first purchased ANZ-issued New Zealand dollar stablecoins on the DAS Portal trading platform and then bought NFTs based on Australian natural assets priced in Australian dollars. The exchange rate between the Australian dollar and the New Zealand dollar was directly converted by ANZ's foreign exchange quotes, allowing buyers to pay in New Zealand dollars while sellers received Australian dollar payments directly.

The test focused on cross-chain Delivery Versus Payment (DvP) settlement. ANZ used its own stablecoin and achieved cross-chain atomic transactions through CCIP's programmable token transfer feature, ensuring that assets and payments were completed simultaneously. This allows customers to access tokenized assets on multiple blockchains through a single platform and improves the customer experience.

Previously reported, the Depository Trust & Clearing Corporation (DTCC) also collaborated with Chainlink to enter the digital asset field. Their Smart NAV pilot project uses blockchain technology to enhance data dissemination in financial markets, exploring new opportunities in financial services through the integration of digital assets. It is evident that traditional financial institutions are actively exploring the use of blockchain technology to enter the realm of RWAs.