Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
The Chainlink team and Arta TechFin are set to enhance their partnership. One of the objectives is to develop new applications for tokenized real estate and stablecoins.
Chainlink Labs, the creator of the Chainlink decentralized blockchain oracle network, and Arta TechFin, based in Hong Kong and involved in managing regulated financial institutions while developing blockchain initiatives through its affiliates, have announced an expansion of their strategic partnership in the digital asset sector.
As stated in the press release, the companies aim to collaborate in the following areas:
- tokenization of real-world assets;
- execution of cross-chain transactions;
- enhancing user access to the digital asset ecosystem.
Related Posts
Specifically, the firms plan to establish a universal market standard for the issuance, distribution, trading, and storage of tokenized assets, while also providing new applications for tokenized real estate and stablecoins. Additionally, representatives from Arta TechFin intend to incorporate Chainlink’s services to deliver a diverse array of innovative tokenized real estate products and services for asset holders and regulated financial institutions.
Eddie Lau, CEO of Arta TechFin, mentioned in the press release that there is a growing market need for a comprehensive solution that facilitates the entire lifecycle of tokenized real-world assets (RWA), from their off-chain creation to trading in the secondary market. The collaboration with Chainlink Labs is designed to meet this demand. The companies initially announced their partnership in November 2023.
According to Chainlink’s website, referencing the 2021 WEF report, the global volume of real-world assets is estimated at $867 trillion. The company’s efforts in tokenization aim to enhance the liquidity of specific asset classes, such as real estate, and to synchronize various databases, including traditional financial systems and blockchain networks.
Chainlink Labs is actively advancing the Cross-Chain Interoperability Protocol (CCIP), which was launched last year. The Depository Trust and Clearing Corporation (DTCC), the largest post-trading, clearing, and settlement entity globally, is currently testing the CCIP within its operations. Under its management, the CCIP has been evaluated as part of the digitization of financial data from TradFi companies and their subsequent transition to DLT systems. The CCIP has also been utilized by Australia and New Zealand Banking Group (ANZ), the largest financial conglomerate in Australia, which employed the protocol to optimize the trading of tokenized assets.
Сообщение Chainlink to Participate in Creation of New Real Estate Tokenization Standards появились сначала на CoinsPaid Media.
