Grayscale is positioning Chainlink as essential infrastructure for the rising market of tokenized property, in accordance with a brand new research report.
The asset supervisor’s analysis arm argues that Chainlink’s suite of providers, spanning real-world knowledge feeds, compliance tooling, and blockchain interoperability, solves most of the real-world frictions that block wider adoption of blockchain-based finance.
Chainlink is greatest identified for powering “oracles,” which feed off-chain knowledge like asset costs to sensible contracts. However its newer choices go a lot additional. The Cross-Chain Interoperability Protocol (CCIP), for occasion, permits tokens and messages to maneuver between chains, one thing that got here into focus throughout a take a look at with J.P. Morgan’s Kinexys and Ondo Finance.
Grayscale sees Chainlink’s LINK token as providing diversified publicity to crypto’s infrastructure layer, per the report. “Chainlink is the essential connective tissue between crypto and conventional finance,” the report rsaid. “It will probably already be thought-about important infrastructure in blockchain-based finance.”
The report pegs the tokenization market at $35 billion at present, nonetheless a fraction of the worldwide asset base, however notes that Chainlink’s integration with corporations like S&P International and FTSE Russell places it in a robust place as conventional markets discover on-chain options.
At the moment, Grayscale added, the full market for tokenized property represents simply 0.01% of the full worth of worldwide mounted revenue and fairness securities. The expansion of the tokenized property market, the agency added, may “suggest progress” in demand for Chainlink’s choices.
Whereas nonetheless small relative to international capital markets, the agency expects the determine to develop as banks, asset managers, and knowledge suppliers discover blockchain rails. It’s already grown from round $5 billion in early 2023 to its present determine.
The report comes at a time when Grayscale has filed to convert its $29 million Chainlink Belief into an exchange-traded fund that might commerce below the ticker GLNK on NYSE Arca. If authorized, it might be the primary U.S.-listed Chainlink ETF and one of many first with a staking element.
