Grayscale Highlights Chainlink as Vital Infrastructure for Tokenized Finance

Grayscale has emphasized that Chainlink will play a crucial role in the upcoming phase of blockchain adoption, describing it as the "critical connective tissue" that links cryptocurrency to traditional finance.

Key Takeaways

Grayscale identifies Chainlink as a vital element connecting crypto and traditional finance.
The project is characterized as modular middleware facilitating the use of off-chain data and cross-chain interaction.
Chainlink is pivotal in the process of tokenization, with partnerships that will boost its impact.
The tokenized asset market has significantly expanded in value.
Chainlink recently assisted in pioneering cross-chain delivery-versus-payment settlements.

Grayscale Highlights Chainlink as Vital Infrastructure for Tokenized Finance

Grayscale's recent research report showcases Chainlink's essential software tools as key infrastructure for tokenization, cross-chain settlement, and the integration of real-world assets onto blockchain systems. This growing relevance positions Chainlink at the forefront of tokenized finance.

Chainlink as the Driver of Tokenization

Grayscale asserts that the value of Chainlink becomes particularly evident in the realm of tokenization. Currently, many financial assets, including securities and real estate, are recorded on off-chain ledgers. For these assets to benefit from blockchain’s efficiency and programmability, they need to be tokenized, verified, and linked to external data sources.

"We anticipate Chainlink will be instrumental in guiding the tokenization process," the asset manager noted, highlighting a range of partnerships with major entities such as S&P Global and FTSE/Russell that can assist in achieving this goal. The market for tokenized assets has seen remarkable growth, rising from $5 billion to over $35.6 billion since the start of 2023, according to RWA.xyz.

Total RWA on-chain Source: RWA.xyz

Achievements: Chainlink, JPMorgan, and Ondo’s Cross-Chain Settlement

In June, Chainlink, alongside JPMorgan’s Kinexys network and Ondo Finance, successfully executed a cross-chain delivery-versus-payment (DvP) settlement. This notable pilot connected Kinexys Digital Payments, JPMorgan's exclusive payment network, with Ondo Chain's testnet that focuses on tokenized real-world assets. By utilizing Chainlink’s Runtime Environment (CRE) for coordination, the settlement facilitated the exchange of Ondo’s tokenized US Treasuries fund, OUSG, for fiat payment, all while ensuring the assets remained within their respective chains.

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