• 28 May, 2024
News

ANZ Australia Completes Cross-Chain Purchase With A$DC Via Chainlink CCIP

ANZ Australia, one of the top institutional banks in Australia, recently concluded a cross-chain purchase via the A$DC stablecoin using Chainlink Cross-Chain Interoperability Protocol (CCIP). A$DC is ANZ’s own bank-issued Australian-dollar stablecoin. To support the issuance of A$DC, ANZ reportedly relied on pilot central bank digital currencies (CBDC) as a risk-free asset.

Chainlink took to X (formerly Twitter) earlier today to report the latest development with ANZ Australia:

According to a blog post published by ANZ Australia, the latest cross-chain purchase of A$DC was based on the findings of Chainlink’s recently conducted tests with the Society for Worldwide Interbank Financial Telecommunications (SWIFT). During the test, Chainlink was able to demonstrate a secure and scalable way to transfer tokenized assets cross-chain using CCIP.

Speaking on ANZ Australia’s latest achievement, Chainlink stated on X:

This new development builds on the lessons learned from the recent Swift blockchain interoperability initiative and further showcases how financial institutions can utilize CCIP to facilitate cross-chain transactions across public and private blockchains.

In other news, Chainlink BUILD recently welcomed the web3 project TopScore to its ecosystem. The collaboration would see TopScore gain access to Chainlink’s industry-leading oracle services and technical support to develop its protocol for web3 digital identity. In exchange, TopScore would make 4% of its total native token supply available to Chainlink service providers including stakers.

According to Chainlink, TopScore joined BUILD to maximize the benefits of security and reliability offered by its Oracle infrastructure. The benefits for the web3 project would include access to a reliable and secure smart contract automation service via Chainlink Automation, as well as access to new Chainlink product Alpha and Beta releases.

Data from CoinMarketCap showed that Chainlink’s native token LINK soared as high as 3.3% earlier today following the latest developments. At the time of writing, LINK was trading at $6.07, with a market capitalization of $3.2 billion.

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