Australia and New Zealand Banking Group (ANZ), one in all Australia’s prime 4 banks, has partnered with Singapore’s Undertaking Guardian to discover the advantages of tokenizing real-world property (RWAs) in monetary markets, in accordance to a report by Brayden Lindera for CoinDesk. This initiative is a part of ANZ’s broader effort to experiment with blockchain expertise, because the financial institution seeks to improve the motion of tokenized property between completely different blockchain networks.
In a press release on September 30, ANZ introduced its collaboration with Chainlink Labs, a blockchain oracle platform, and ADDX, a Singapore-based funding agency, to check how tokenized property like business papers can work together throughout blockchains. The venture will contain utilizing Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to allow smoother transactions between varied blockchain networks.
Undertaking Guardian, initiated by the Financial Authority of Singapore (MAS), seeks to discover and enhance monetary market infrastructure by way of the usage of asset tokenization and decentralized finance (DeFi) options. This initiative brings collectively policymakers and the monetary sector to improve market liquidity and effectivity. The venture collaborates with a number of worldwide regulators, together with the UK’s Monetary Conduct Authority, Japan’s Monetary Companies Company, the Swiss Monetary Market Supervisory Authority, and Banque de France. It additionally includes trade gamers equivalent to DBS Bank, J.P. Morgan, Deutsche Bank, and different monetary establishments which might be operating pilot tasks to look at varied components of tokenization and DeFi functions.
Nigel Dobson, ANZ’s banking companies lead, had this to say:
“Tokenised asset markets are extremely fragmented, with tokenised property and associated companies developed throughout completely different blockchains that aren’t natively interoperable. This may restrict the adoption of tokenised property, whereas making the combination course of for monetary establishments complicated. We’re happy to be part of Undertaking Guardian and look ahead to demonstrating how our rising Digital Assets capabilities, equivalent to A$DC, can be utilized to help our clients to transfer items and capital throughout the area.“
ANZ may also profit from Undertaking Guardian’s on-the-ground help because it maintains a big presence in Singapore.
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