BREAKING NEWS.

The Australia and New Zealand (ANZ) Banking Group, together with Chainlink, has released the findings of a project to close the gap between Ethereum and Avalanche for global asset settlement. The outcomes of the partnership between ANZ and Chainlink, which concentrated on utilising the Cross-Chain Interoperability Protocol (CCIP) to speed up settlement of tokenized assets across several blockchain networks, were presented in a recent release that was posted on X.

The banking group and Chainlink are working together to show off how delivery versus payment (DvP) may be used to access, trade, and settle tokenized assets across various networks and currencies. We've duplicated this classic trading system settlement procedure on-chain to show how blockchain technology may be used to modernise antiquated infrastructure.

Two significant outcomes were observed when the technique was made available to the testnet. Customers of ANZ originally bought the tokenized New Zealand Dollar (NZ$DC) stablecoin that the bank had launched on Avalanche through the bank's Digital Asset Services platform. Then, on the Ethereum network, clients acquired tokenized assets that represented Australia's natural resources. These tokenized assets were issued as non-fungible tokens (NFTs) and valued in a tokenized Australian Dollar stablecoin (A$DC) that was issued by ANZ.