ADDX and ANZ pilot tokenized commercial papers with Chainlink’s private transaction tech Technology 7 hours ago

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.Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.AJ, a passionate journalist since Yemen’s 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting. Your daily dose of must-have crypto news and deep dives. Direct to your inbox.Global Dollar Network seeks widespread adoption by offering superior customer protection and unlocking new industry applications.MAS partners with global financial giants to enhance liquidity and infrastructure in tokenized assets.Singapore’s welcoming regulatory landscape attracts major crypto trading platforms, including Gemini, to its shores.Project Mandala leverages decentralized systems to boost compliance and expedite cross-border payments in multiple jurisdictions.Swift’s pilot links 11,500 financial institutions to automate tokenized fund processes, reducing costs and enabling real-time transparency.Chainlink Oracle adoption empowers Tron’s $60 billion stablecoin sector with secure, decentralized data feeds.Lido’s Chainlink integration transforms staking, providing users with direct access to wstETH on Arbitrum, Base, and Optimism.Australia and New Zealand Banking Group (ANZ) is the first financial institution to embrace Chainlink’s CCIP Private Transactions.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.