ADDX and ANZ pilot tokenized commercial papers with Chainlink’s private transaction tech

Share This Post

Private market exchange ADDX, Australia and New Zealand Banking Group (ANZ), and Chainlink have launched an innovative solution for cross-border transactions involving tokenized commercial papers, according to a Nov. 6 statement.

The project utilizes ADDX’s investment platform, ANZ’s Digital Asset Services, and Chainlink’s Cross-Chain Interoperability Protocol (CCIP) with its Private Transactions functionality. It was designed to enable regulatory-compliant digital asset transactions, allowing financial entities to tokenize and conduct these transactions within their existing frameworks.

Commercial paper was chosen for this pilot due to its short-term nature, allowing the entire asset lifecycle — issuance, subscription, settlement, and redemption — to be demonstrated. This setup will enable Australian investors to purchase and redeem tokenized commercial papers on ADDX, a licensed market operator.

Transaction settlement will be managed across private blockchains using Chainlink’s CCIP, and the transaction details will remain confidential across the public CCIP network to meet regulatory requirements.

Chainlink’s CCIP Private Transactions further enhance security, ensuring that private institutional data is inaccessible to external parties. This includes transaction amounts, counterparty details, bid/ask information, and settlement instructions, securing each transaction within the private blockchain.

Inmoo Hwang, ADDX’s Group CFO, noted that the use case simplifies the entire process for tokenized financial assets, from issuance through redemption. He highlighted the pilot’s potential to improve operational efficiency, speed up settlement times, and strengthen cross-border functionality.

Chainlink co-founder Sergey Nazarov echoed the sentiment, adding that the use case marks significant progress for blockchain technology, both in the transaction process and its secure, innovative execution. He stated:

“Privacy of transactions has been a longtime limiting factor in capital markets’ adoption of digital assets and blockchains more generally. With CCIP Private Transactions, we are able to conduct private on-chain transactions in a way that meets the highest level of compliance requirements.”

The project was developed under Singapore’s Monetary Authority (MAS)-led Project Guardian initiative. Project Guardian is a global collaboration between policymakers and key industry players to
enhance the liquidity and efficiency of financial markets through asset tokenization.

The post ADDX and ANZ pilot tokenized commercial papers with Chainlink’s private transaction tech appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Bitcoin Price ATH Set To Cross $139,000 According To Previous Election Cycles

Crypto analyst TechDev has predicted that the Bitcoin price could rally to as high as $139,000 in this market cycle The analyst made this prediction based on previous election cycles, which were also

Solana ETF Momentum Grows Amid Reports of SEC Engagement

The SEC’s reported progress on Solana ETF filings and potential leadership changes have sparked optimism, signaling a possible shift in cryptocurrency investment regulations Solana ETF Filings

Bitcoin Smashes Records: Hashrate Hits 776 EH/s as Price Soars Closer to $100K

Based on the most recent data using the seven-day simple moving average (SMA), bitcoin’s hashrate climbed to an unprecedented peak on Nov 21, reaching 776 exahash per second (EH/s) for the

FTX on track to rollout repayment plan in January 2025

FTX and its affiliated debtors announced they are on track to implement their Chapter 11 Plan of Reorganization by Jan 2025, which will set distributions for creditors and customers  According to

Global Asset Manager Launches XRP ETP With Industry-Leading Pricing in Europe

XRP advances with a new institutional-grade exchange-traded product, offering secure, physically backed exposure as Wisdomtree expands crypto products amid growing investor interest XRP Gains Ground:

XRP Gains Momentum: Whale Activity Points To $15 Breakthrough

XRP is gaining prominence in the cryptocurrency market, propelled by a substantial purchasing surge from major investors referred to as whales Related Reading: Upbit Listing Sends BONK Skyrocketing