Grayscale has stated that Chainlink shall be at the heart of the subsequent main section of blockchain adoption, referring to the mission as the “crucial connective tissue” that hyperlinks crypto to conventional finance.
In a latest analysis report, the asset supervisor argued that Chainlink (LINK)’s rising suite of software program instruments is rising as important infrastructure for tokenization, crosschain settlement and the broader shift towards real-world belongings on blockchain rails.
“A extra correct description of Chainlink as we speak can be modular middleware that lets on-chain purposes safely use off-chain knowledge, work together throughout blockchains, and meet enterprise-grade compliance wants,” Grayscale wrote.
The corporate added that this increasing footprint has helped flip LINK into the largest non–layer 1 crypto asset by market cap (excluding stablecoins), giving traders publicity to a number of ecosystems somewhat than a single chain.
Associated: Asset supervisor Grayscale Investments recordsdata for US IPO
Chainlink will orchestrate tokenization growth
In response to Grayscale, tokenization is the clearest pathway the place Chainlink’s worth turns into apparent. As we speak, practically all monetary belongings, from securities to actual property, are nonetheless recorded on off-chain ledgers. For these belongings to achieve the effectivity and programmability of blockchains, they have to be tokenized, verified and linked to exterior knowledge sources.
“We count on Chainlink to play a central position orchestrating the course of of tokenization, and it has introduced a spread of partnerships, together with with S&P World and FTSE/Russel, that ought to assist it accomplish that,” the asset supervisor wrote.
The tokenized asset market has grown from $5 billion to greater than $35.6 billion since early 2023, in keeping with RWA.xyz.
Associated: Emory College ups stake in Grayscale’s Bitcoin ETF to $52M
Chainlink, JPMorgan, Ondo Full first crosschain DvP settlement
In June, Chainlink, JPMorgan’s Kinexys community and Ondo Finance accomplished a crosschain delivery-versus-payment (DvP) settlement between a permissioned financial institution cost system and a public blockchain testnet.
The pilot linked Kinexys Digital Funds, JPMorgan’s permissioned cost community, with Ondo Chain’s testnet, which makes a speciality of tokenized real-world belongings. Utilizing Chainlink’s Runtime Atmosphere (CRE) as the coordination layer, the settlement exchanged Ondo’s tokenized US Treasurys fund, OUSG, for fiat cost with out the belongings leaving their native chains.
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