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Avalanche and Chainlink Partner for Australasian On-Chain Settlement

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Avalanche and Chainlink Partner for Australasian On-Chain Settlement

ANZ and Chainlink Labs have collaborated to connect the Avalanche and Ethereum blockchain networks for on-chain settlement solutions. ANZ used Chainlink’s cross-chain interoperability protocol (CCIP) to demonstrate how clients can access, trade, and settle tokenized assets across different networks and currencies. This collaboration aims to modernize traditional settlement processes and ensure secure, non-intermediated settlements. By tokenizing assets and payments on the same blockchain infrastructure, ANZ can potentially streamline the process.

ANZ simulated a transaction where a customer used the bank’s digital asset services (DAS) portal to purchase a tokenized ANZ-issued New Zealand dollar stablecoin (NZ$DC) via Avalanche. The customer then bought tokenized Australian nature-based assets on the Ethereum network, which were denominated in tokenized ANZ-issued Australian dollar stablecoins (A$DC). This transaction showcases the seamless transfer of assets between different blockchain networks.

ANZ utilized its own Avalanche Evergreen Subnet for Ethereum virtual machine compatibility, permissioning, and customized gas token. This integration enables ANZ to leverage the benefits of both blockchain networks. Through this collaboration, ANZ aims to explore the potential of blockchain, smart contracts, and tokenization to revolutionize the global financial system.

This partnership emphasizes the convergence between traditional finance and decentralized finance (DeFi) in the tokenized asset ecosystem. ANZ, a leading banking institution, provides services to millions of retail and institutional customers in various markets. As the project progresses, ANZ plans to deploy the solution on blockchain mainnets, paving the way for widespread adoption of blockchain-enabled asset settlement in the financial services industry.

In a similar vein, Citigroup partnered with Ava Labs, the developer of the Avalanche network, to tokenize private equity funds using the Avalanche blockchain. This collaboration represents the growing interest and adoption of blockchain technology in the financial sector.

7 thoughts on “Avalanche and Chainlink Partner for Australasian On-Chain Settlement

  1. Tokenizing private equity funds on the blockchain is a disaster waiting to happen. It’s not a secure or reliable solution.

  2. That’s amazing news! ANZ and Chainlink Labs are paving the way for seamless cross-chain settlement solutions. 💪💫 It’s great to see traditional financial institutions embracing blockchain technology. 🚀 ANZ’s collaboration with Chainlink is a step towards revolutionizing the global financial system. 🌍 Tokenization and smart contracts have enormous potential! 💰 The partnership between ANZ and Chainlink is bridging the gap between traditional finance and DeFi. 🌉🔗 ANZ’s use of their own Avalanche Evergreen Subnet shows their commitment to innovation and scalability. 👏 The integration of both blockchain networks will surely lead to more efficient settlement processes. ⚡️ Tokenizing assets and payments on the same blockchain infrastructure is a game-changer for ANZ! 💸🎉 ANZ’s transaction simulation proves the seamless transfer of assets between different blockchain networks is possible. 🔄 This collaboration marks another step towards widespread adoption of blockchain technology in the financial industry. 📈🔒 Citigroup’s partnership with Ava Labs adds more credibility to the growing interest in blockchain technology. 💼 The financial sector continues to recognize the potential of blockchain for various applications. 💎 Exciting times ahead! ANZ and Chainlink are at the forefront of blockchain innovation. 🔝🌟 Kudos to them for exploring the endless possibilities of blockchain, smart contracts, and tokenization. 🤩💡

  3. This partnership is just a desperate attempt by ANZ to stay relevant in a rapidly changing industry.

  4. The financial system doesn’t need tokenization or smart contracts. It’s been working just fine without them for years.

  5. The financial sector doesn’t need blockchain technology. It’s just a fad that will eventually fade away.

  6. ANZ should stick to what it knows best instead of trying to dabble in blockchain technology. 🤨

  7. Why do we need tokenized stablecoins when we already have traditional fiat currencies? It’s just complicating things for no reason.

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