Australia's ANZ Bank tests tokenized asset transactions
Australia's ANZ Bank tests tokenized asset transactions
ANZ Bank, one of Australia's Big Four banks, has used Chainlink's interconnect protocol to test tokenized asset purchases.
The bank conducted a tokenized asset transaction using its A$DC stablecoin and Chainlink's Cross-Chain Interconnect Protocol (CCIP).
ANZ announced the use of the CCIP interconnect protocol to simulate tokenized asset purchases and partnered with Chainlink to conduct a test transaction. The result demonstrated secure cross-chain asset settlement using A$DC.
The bank commented on its success: "ANZ recently worked with Chainlink CCIP to complete a test transaction to purchase a tokenized asset using A$DC and an ANZ-issued New Zealand dollar stablecoin".
The test transaction confirmed the bank's ability to transfer funds across both public and private blockchain networks.
Chainlink said the move builds on lessons learned from the Swift blockchain interoperability initiative, which was launched in June. This is a joint venture between the world's leading banks that aims to test the limits of blockchain interoperability. In addition to ANZ, banks participating in the system include BNP Paribas, BNY Mellon, Euroclear, Lloyds Banking Group, Citi, Clearstream, SIX Digital Exchange (SDX), and DTCC.
CCIP uses two separate Oracle networks: one that handles messaging and asset transfers, and one that monitors transaction risk.
Nigel Dobson, Head of Banking at ANZ, said: "The bank's work with its A$DC stablecoin and tokenization of real assets has paid dividends, and we continue to explore further use cases at an enterprise level. Further adoption of digital assets will lead to their proliferation across many blockchain networks."
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