The Chainlink team and Arta TechFin are planning to expand their collaboration. One of the goals is to create new scenarios for using tokenized real estate and stablecoins.
Chainlink Labs, a developer of the Chainlink decentralized blockchain oracle network, and Hong Kong-based Arta TechFin, which manages regulated financial institutions and develops blockchain projects through its affiliated institutions, announced an expansion of their strategic collaboration in the digital asset space.
According to the press release, the companies plan to join forces in areas such as:
- tokenization of real-world assets;
- implementation of cross-chain transactions;
- facilitating users’ access to the digital asset space.
Specifically, the companies intend to create a universal market standard for issuing, distributing, trading, and storing tokenized assets and offer new uses for tokenized real estate and stablecoins. Moreover, Arta TechFin representatives plan to integrate Chainlink’s services to provide a wide range of innovative tokenized real estate products and services for asset owners and regulated financial institutions.
Eddie Lau, CEO of Arta TechFin, said in the press release that there was an emerging market demand for an end-to-end solution that enables a full cycle of tokenized real-world assets (RWA), from their off-chain creation to trading in the secondary market. The partnership with Chainlink Labs aims to fulfill this demand. The companies originally announced their collaboration in November 2023.
Chainlink’s website states, with reference to the 2021 WEF report, that the global volume of real-world assets is $867 trillion. The company’s work in tokenization aims to increase the liquidity of certain asset classes, such as real estate, and synchronize various databases, including traditional financial systems and blockchain networks.
Chainlink Labs is actively developing the Cross-Chain Interoperability Protocol (CCIP) launched last year. The Depository Trust and Clearing Corporation (DTCC), the world’s largest post-trading, clearing, and settlement company, is already testing the CCIP in its processes. Under its management, the CCIP was tested as part of the digitization of financial data of TradFi companies and their subsequent transfer to DLT systems. The CCIP was also used by Australia and New Zealand Banking Group (ANZ), Australia’s largest financial conglomerate, which used the protocol to streamline trading of tokenized assets.
