Chainlink, a leading Web3 services platform, has recently joined forces with ANZ and ADDX to advance the Monetary Authority of Singapore’s (MAS) Project Guardian. This collaborative initiative aims to improve cross-chain transactions of real-world assets and to explore interoperability between private blockchains. Chainlink shared this development on its official X account.
The recent partnership with ANZ, an Australian bank with over A$1 trillion in assets, is an essential development for Chainlink. The bank showed interest in its participation in Project Guardian, mentioning that there could be more opportunities for tokenized real-world assets in the financial market. Chainlink says that it will employ the Cross-Chain Interoperability Protocol to enable the secure exchange of these tokenized assets across multiple blockchains.
Chainlink has become one of the key participants in the blockchain space. Because it provides seamless connectivity for trillions of dollars in value across financial services, insurance, and NFT industries, it is the largest decentralized Oracle network that enables developers to build reliable Web3 applications. It can directly interact with the real world and off-chain computations on any blockchain. This functionality provides a single entry point for organizations worldwide to multiple blockchains.
ANZ Celebrates 50 Years in Singapore, Emphasizes Regulatory Support
ANZ Singapore Country Head Mark Evans pointed out that the bank has been operating in Singapore for five decades. He pointed out that the environment in the country for the regulation of the banks encourages innovation. It also makes it easier for the bank to deliver enhanced customer service. Evans said that they are proud to be part of Project Guardian. This will contribute to accelerating the development of a sustainable and secure digital asset environment in the region.
Project Guardian was initiated in 2022 to unite policymakers and the financial industry. The core subject of the project is to promote the fluidity and efficiency of financial markets by tokenization. Nigel Dobson, ANZ Banking Services Lead, noted that tokenized asset markets are disconnected. He said that this is because different blockchains are not compatible, which makes it challenging for financial institutions to integrate the system and thereby make tokenized assets more popular.
Moving forward, both Chainlink and ANZ are excited to show their strength in the new generation of digital assets. This partnership can be considered a step toward a more united and effective financial system.
