ANZ and Chainlink collaborate to leverage Avalanche and Ethereum networks for seamless tokenized asset settlement, aiming to revolutionize financial workflows.
The Australia and New Zealand Banking Group alongside Chainlink Labs collaborated to connect Avalanche and Ethereum blockchain networks for on-chain settlement solutions.ANZ used an interoperability solution provided by Chainlink called the cross-chain interoperability protocol , which allowed it to demonstrate how clients will be able to access, trade, and seamlessly settle tokenized assets across networks in different currencies.
Central to this initiative is the concept of “Delivery vs. Payment ” — a standard settlement protocol for securities transactions. By tokenizing assets and payments on the same blockchain infrastructure, ANZ could potentially modernize traditional DvP processes, and ensure an atomic, non-intermediated settlement."Chainlink’s CCIP played a key role in abstracting away the blockchain complexity of moving tokenized assets across different chains and ensuring atomic cross-chain DvP.
On the Ethereum network, it then purchased tokenized Australian nature-based assets issued as NFTs and denominated in tokenized ANZ-issued Australian dollar stablecoins Former Blockchain Global director restricted from leaving Australia
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