Australia and New Zealand Banking Group (ANZ), which is valued at nearly $50 billion, has successfully transacted its Australian-dollar stablecoin A$DC using Chainlink’s cross-blockchain protocol.
“As a bank, ANZ sees real value in what could be achieved with tokenized assets,” Nigel Dobson, the bank’s portfolio lead, said in a statement.
Perspective: Blockchain experimentation from such a large international bank is a major sign of growing adoption for digital assets and an indicator that more financial institutions want to transact in stablecoins.
“This is a win for the whole space and also particularly stablecoins, which is for sure a killer use case in crypto,” TheStreet Crypto’s Aaron Arnold said in the video above.
More details: ANZ utilized Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to test transacting with A$DC across public and private blockchains, demonstrating the capability to tokenize real-world assets and effectively transfer them across blockchain networks.
“ANZ have just started integrating and testing the Chainlink network to send stablecoins of the Austrian dollar to and from the bank and the traditional financial world,” explained Austin Arnold.
Chainlink is one of the blockchain industry’s largest projects, designed to provide interoperability between networks as a “decentralized oracle.”
Source: thestreet.com
Featured image from: thestreet.com