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The Chainlink Runtime Environment (CRE) was utilized to effectively carry out a cross-chain delivery versus payment (DvP) transaction involving tokenized assets across both public and permissioned blockchains.
Chainlink, recognized as the leading blockchain oracle provider, announced the successful execution of the inaugural cross-chain tokenized asset transaction between two distinct blockchain networks.
This achievement was part of a collaboration involving JPMorgan’s blockchain network Kinexys Digital Payments, a prominent American financial institution, and Ondo Finance’s testing environment Ondo Chain, which issues tokenized securities. A successful DvP exchange was performed, involving the OUSG token, issued by Ondo Finance and supported by highly liquid U.S. government bonds.
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The successful atomic swap of assets was facilitated by the Chainlink Runtime Environment (CRE), a modular computational framework created by Chainlink to manage intricate operations between various blockchain networks and external systems. In this initiative, CRE guaranteed synchronous settlement execution between Ondo Chain and Kinexys.
The report indicated that executing DvP transactions within the TradFi ecosystem is hindered by fragmented infrastructure and manual procedures, resulting in delays, heightened counterparty risk, and potential settlement failures. Over the last decade, these inefficiencies have cost market participants upwards of $914 billion.
Chainlink’s technology served as a conduit between public and permissioned blockchains, removing the necessity for transaction participants to place trust in any single entity. This initiative illustrated that CRE provides the level of automation, security, and interoperability essential for advancing tokenized asset markets at the convergence of traditional and decentralized finance.
Recently, Chainlink became the primary partner of the Hong Kong Monetary Authority (HKMA) in trials involving the digital Hong Kong dollar (e-HKD) in cross-chain transactions. Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is employed in the project to ensure the secure transfer of data and value between public and permissioned blockchain networks.
Сообщение Chainlink Enhances Efficiency of Cross-Chain Settlements With Tokenized Assets появились сначала на CoinsPaid Media.
