In partnership with Chainlink Labs Australia’s largest bank, ANZ has successfully settled tokenized assets across chains on the Avalanche Network.
The aforementioned is a blog announcement On Mar. 25, 25, Avalanche The Australia New Zealand Banking Group and Chainlink Labs successfully completed an effort to connect blockchains – specifically Avalanche & EthereumFacilitate the transfer of assets tokenized globally.
According to this document, ANZ – a multi-national banking group that serves over 8.5million retail and institutional clients in more than 30 countries – used Chainlink’s solutions to demonstrate to its customers how they could trade tokenized assets and settle them across multiple networks.
During this pilot, ANZ simulated a tokenized asset purchase on Ethereum priced with one stablecoin. The transaction initiation, settlement, and settlement of the transaction occurred in Avalanche, using another stablecoin. Avalanche stated that ANZ used its Ethereum tokens for the project. own Avalanche Evergreen Subnet leverages its compatibility with the Ethereum Virtual Machine and custom features to ease transactions.
“Avalanche’s Evergreen Subnets have allowed ANZ to join the list of institutions exploring new use cases and business models while leveraging customizable networks like Avalanche.”
Anurag Soin is the product leader for digital services added at ANZ.
Avalanche AVAX’s price soared by 8.6% in just a few seconds to $58.56 on CoinMarketCap. Avalanche said the next The pilot phase involves the deployment of the solution to blockchain mainnets, and the expansion of workflows so that they include the communication between networks in various cases.
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Source: crypto.news