The move is part of ANZ's involvement in the Monetary Authority of Singapore's (MAS) Project Guardian, which aims to enhance access to tokenized assets

Australia’s second-largest bank, ANZ, has joined forces with Chainlink Labs and ADDX to delve into the realm of tokenized real-world assets, as per a Sept. 30 statement shared with CryptoSlate.

The initiative aligns with ANZ's participation in the Monetary Authority of Singapore's (MAS) Project Guardian, which aims to enhance access to tokenized assets within the financial sector.

Project Guardian is a long-term, global endeavor that enlists the participation of financial regulators, including the UK’s FCA, Switzerland’s FINMA and Japan’s FSA, alongside key players in the financial services industry. The initiative is designed to spearhead the tokenization of assets across various economic sectors, such as fixed-income, foreign exchange and asset management products.

ANZ's role in the project entails exploring the use of private blockchains to facilitate the exchange of tokenized assets like commercial papers. Mark Evans, ANZ's Singapore country head, lauded MAS for its leadership in financial innovation, stating that the bank is pleased to join Project Guardian and contribute to the development of a stable and secure digital asset ecosystem.

Evans further highlighted the challenges in the tokenized asset market, specifically how blockchain fragmentation hinders widespread adoption and integration. However, he expressed confidence that ANZ's partnerships will help overcome many of these common obstacles in the industry.

The initiative will also showcase the capabilities of ANZ's A$DC token, which is designed to streamline the movement of goods and capital for customers across the region, Evans added.

In a related development, Chainlink co-founder Sergey Nazarov emphasized the importance of interoperability for financial institutions to scale transactions with tokenized assets. He highlighted Chainlink's cross-chain interoperability protocol (CCIP) technology as a key driver in advancing the growth of the tokenized economy.

Oluwapelumi Adejumo values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underscoring transformative power.

Assad Jafri, 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.

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