Tokenization of real-world assets is already a reality. The time for procrastination is over. The Australia and New Zealand Banking Group (ANZ), one of the four largest Australian banks, has just completed its first transfer of tokenized assets. For the crypto ecosystem, the victory is worth celebrating. Carried out using Chainlink’s cross-chain interoperability protocol, this initiative officially opens the era of fusion between the crypto world and that of traditional finance.
In short
- ANZ, one of Australia’s major banks, is partnering with Chainlink to successfully complete its first purchase of tokenized assets.
- Thanks to the Chainlink protocol, ANZ confirms the reliability of transactions in tokenized assets between different blockchains.
ANZ partners with Chainlink for asset tokenization
Between the crypto ecosystem and the traditional financial system, the boundaries are blurring and the giants of traditional finance have understood this. The announcement made by ANZ on X this Wednesday proves this sufficiently.
ANZ, which abolished cash a few months ago, has just passed a test of purchasing tokenized assets. She used A$DC, her stablecoin backed by the New Zealand dollar.
The test was carried out using Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which is currently the standard for blockchain interoperability. The goal was to verify the reliability and security of real-world tokenized asset transactions between open and private blockchains.
ANZ is now looking forward to finally delivering the solution to the tokenization of real-world assets through Chainlink. She also said she was determined to continue the adventure with a “test and learn” approach.
Passing the test thus allays fears linked to the idea of the deployment of retail CBDCs. The bank should soon be able to connect stablecoins, tokenized bank deposits and CBDC.
Major global financial institutions attracted by tokenization
Tokenization is starting to attract attention and the momentum is not about to stop. According to recent statistics, almost 93% of institutional investors believe in the long-term value of tokenized assets.
For its part, Chainlink, a reference in interoperability, indicated on X that it “relied on the lessons learned” from its alliance with Swift.
Indeed, last June, Swift initiated an interoperability project to promote purchases of tokenized assets. The project also aimed to test the limits of blockchain interoperability. It had seen the participation of several major global financial institutions.
There were, among others, BNP Paribas, Lloyds Banking Group, Euroclear, BNY Mellon, Depository Trust and Clearing Corporation, Clearstream, ANZ and many other big names.
What is certain is that the ANZ will not stop there. ANZ banking portfolio manager Nigel Dobson reiterated this. On So, get ready: by 2030, the world of finance will have a completely new face.
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