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Expanding The Possibilities Of Tokenized Assets With Chainlink CCIP At Sibos 2023

Chainlink co-founder Sergey Nazarov and Distinguished Scientist at Chainlink Dahlia Malkhi will be among the industry leaders and pioneers speaking at this year’s Sibos, the world’s premier financial services event organized by global financial infrastructure provider, Swift.

On Monday, Nazarov will join Nigel Dobson, Banking Services Lead at ANZ, one of the largest institutional banks in Australia, to discuss “Connecting Traditional Finance with Blockchains Using Chainlink.”

ANZ was among a dozen top banks and financial infrastructure providers which recently collaborated with Swift to develop a blockchain interoperability model powered by Chainlink’s Cross-Chain Interoperability Protocol (CCIP). Swift’s findings successfully illustrated how over 11,500 banks using Swift’s PKI can integrate CCIP to securely transfer tokenized assets between public and private blockchains.

A 2022 report from BNY Mellon showed that 91% of institutional investors are interested in tokenized products for their potential to increase efficiency, reduce costs, and create new opportunities through fractional ownership.

In a recent blog post, ANZ’s Nigel Dobson reflected on the significance of Swift’s proof of concept in making Sibos’ 2023 theme, “Collaborative finance in a fragmented world,” a reality.

“ANZ was an active participant in Swift’s work,” Dobson wrote. “The lessons from this collaboration will inform the scope of future research and we hope will pave the way for greater adoption of tokenised assets.”

He described ANZ’s “test-and-learn” approach to developing enterprise-grade use cases for tokenized assets informed by growing consumer interest. “Based on market activity, we expect the continued adoption of digital assets will result in the proliferation of multiple assets across many blockchain networks,” he wrote.

CCIP provides a single access point for banks to connect with any blockchain using their existing backend infrastructure. As a universal interoperability standard, CCIP would ultimately allow tokenized assets to achieve new and unforeseen utility by allowing them to optimize and flow freely between private bank chains and public DeFi applications. 

In anticipation of Sibos, Dobson wrote that ANZ is “looking forward to participating in further work with the wider industry as we all seek to test, learn and see what’s possible.”

Register for Sibos here.

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