Swift and Chainlink have successfully transferred tokenized value across multiple private and public blockchains, which has the potential to remove barriers and enable the global scaling of tokenized asset markets, according to a press release.
SWIFT suggests that interlinking existing systems with blockchains is a more viable solution for short-term market development than combining central bank digital currencies and tokenized assets in a single ledger.
Chainlink (LINK) may be on the verge of a bullish breakout against Bitcoin (BTC), according to crypto analyst Michaël van de Poppe, who believes that the recent launch of the Cross-Chain Interoperability Protocol (CCIP) could significantly boost Chainlink's value.
The Tokenized Asset Coalition, consisting of industry leaders such as Coinbase and Circle, aims to promote the tokenization of traditional financial assets on a blockchain to bring the "next trillion dollars of assets" on-chain through education, advocacy, and fostering adoption of public blockchains and decentralized finance.
The Tokenized Asset Coalition (TAC) has been formed by seven leaders in decentralized finance (DeFi) to work towards the adoption of public blockchains, asset tokenization, and institutional DeFi, with the aim of creating a unified financial system on the blockchain.
The future of blockchain is expected to be interoperable with the proliferation of multiple chains and the end of cross-chain bridge hacks, according to industry executives at Korea Blockchain Week. New products, such as Chainlink's Cross-Chain Interoperability Protocol (CCIP) and MetaMask Snaps, are set to bring about this interoperability and shift the focus from the specific blockchain used to the functionality of smart contracts. The goal is to establish a scalable and secure network of interconnected blockchains for seamless cross-chain transactions and increased utility.
Chainlink's LINK tokens have seen significant movements in the market, particularly with transfers from notable Chainlink wallets injecting a substantial number of tokens into various platforms, raising concerns about the asset's stability and future price trajectory.
Chainlink and Arbitrum have announced the mainnet launch of the Chainlink Cross-Chain Interoperability Protocol (CCIP) on Arbitrum One, providing developers with a secure and easy-to-use interface to build applications that can send messages, transfer tokens, and initiate actions across blockchains.
Chainlink's LINK token outperformed the top 20 cryptocurrencies in the past week with a 14% gain, supported by increased network activity and adoption of its Cross-Chain Interoperability Protocol (CCIP), while other major cryptocurrencies performed poorly.
Blockchain oracle platform Chainlink has expanded its cross-chain capabilities by enabling the Cross-Chain Interoperability Protocol (CCIP) on Coinbase-backed Ethereum layer-2 network Base, allowing developers to easily build cross-chain applications and services.
Chainlink (LINK) may be on the verge of reversing its multi-year downtrend and sustaining bullish momentum, as it moves above a key long-term indicator, according to crypto strategist Kevin Svenson. However, Svenson also suggests that LINK may need more time before entering bull territory and breaking out above its macro resistance.
Despite the prevalence of private blockchains in the banking sector, the co-founder of Chainlink predicts that public blockchain protocols will ultimately become the biggest market for banks' tokenized real-world assets, as they offer diversified collateral and attractive yields. However, financial institutions in the US may proceed with caution due to regulatory uncertainty. On the other hand, European and Asian banks are progressing in this area, with companies such as Citi and JPMorgan exploring tokenization on public blockchains like Ethereum. Franklin Templeton has also embraced public blockchains, recognizing their cost efficiency and rate of innovation. Interoperability and cross-border liquidity are key considerations for banks as they adopt tokenization and explore ways to move assets across chains.
Decentralized oracle service Chainlink has collaborated with Australia and New Zealand Banking Group (ANZ) on a case study demonstrating the cross-chain transfer of ANZ-issued stablecoins via Chainlink's Cross-Chain Interoperability Protocol (CCIP), potentially simplifying the user experience and accelerating the adoption of tokenized assets by financial institutions.
Inflation of Chainlink (LINK) tokens could pose a challenge for the cryptocurrency to reach new highs in the next bull run, as the increased number of tokens in circulation requires a significant increase in buying pressure to match previous price levels, according to a crypto analyst.
Untangled Finance, a tokenized real-world asset marketplace, has launched on the Celo network after securing $13.5 million in venture capital funding, with plans to expand to Ethereum and Polygon via Chainlink's Cross Chain Interoperability Protocol. The platform aims to bring tokenization to the private credit market and offers features such as a built-in liquidation engine and a forward-looking credit assessment model.
Chainlink's native token (LINK) is seen as the "safest bet" for investors looking to profit from the tokenization of real-world assets (RWA) narrative in the crypto industry, according to research firm K33 Research.
Chainlink (LINK) has outperformed Bitcoin (BTC), Ethereum (ETH), and other altcoins since September, becoming the leading decentralized blockchain oracle solution; however, concerns arise as the price faces a 10% correction and breaking the $7.20 support level may erase previous gains. The recent surge in LINK's value can be attributed to successful tests by SWIFT and the Australia and New Zealand Banking Group (ANZ), but changes to Chainlink's multisig and a decline in protocol fees have reduced investor interest.
