ANZ Bank uses Chainlink CCIP to test the purchase of tokenized assets

ANZ Bank tests tokenized asset purchases with Chainlink CCIP.

Author: Brayden Lindrea, Cointelegraph; Translator: Song Xue, LianGuai

The Australia and New Zealand Banking Group (ANZ) is one step closer to launching its bank-issued stablecoin A$DC after successfully conducting test transactions on the Chainlink cross-chain interoperability protocol.

Nigel Dobson, Head of Bank Services Portfolio at ANZ, stated in a statement on September 14th that the transaction was a “milestone” for the bank: “ANZ recently completed a test transaction in collaboration with Chainlink CCIP to simulate the purchase of tokenized assets and assist with the use of A$DC and ANZ’s stablecoin denominated in New Zealand dollars.”

Dobson stated that the company has been experimenting with multiple networks, presumably to test where the ANZ Australian dollar stablecoin can be best utilized:

• Is the encryption industry ready to welcome the influx of funds from Wall Street?
• US SEC Targets NFTs What Does It Mean for NFTs?
• Messari Farcaster’s usage rate has reached a historical high recently. What are the key factors driving Farcaster’s growth?

“We are actively exploring the use of decentralized networks through testing and learning.”

Dobson stated that ANZ sees the “real value” in tokenizing real-world assets such as the Australian dollar, which could potentially change the banking industry:

“Tokenized assets are already changing the way the banking industry operates, and if the right pieces can be put together, the technology has the potential to do even more.”

ANZ minted the first A$DC stablecoin in March 2022, becoming the first Australian bank to do so. A year later, National Australia Bank became the second with its AUDN stablecoin on the Ethereum platform.

However, National Australia Bank and some of its peers, including Commonwealth Bank of Australia, Westpac, and Bendigo Bank, have recently implemented restrictions that, in some cases, completely prohibit bank transfers to several “high-risk” cryptocurrency exchanges.

These banks stated that the main reason for implementing these restrictions is to protect customers from cryptocurrency scams.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!