Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is the industry standard for cross-chain digital asset and data transfer. Leading DeFi protocols and decentralized exchanges as well as traditional financial institutions are integrating CCIP to unlock new use cases and markets for tokenized real-world assets with unique onchain utility, such as fractionalization and programmability.
This week, Weset, a comprehensive ecosystem for real-world asset tokenization, announced its CCIP integration across the BNB Chain and Ethereum mainnets. Weset is employing CCIP’s Simplified Token Transfer capabilities to facilitate cross-chain transfers of its native token, WECO. As a secure, streamlined solution for cross-chain transfers, CCIP will allow Weset to unlock new liquidity and enhance its user experience.
The Weset.app platform features a built-in marketplace that allows users to seamlessly buy, sell, and manage tokenized assets that represent real-world assets. Earlier this year, Weset integrated Chainlink Automation to simplify the payouts distribution process for asset owners.
As the industry-standard decentralized computing platform, Chainlink has enabled over $12 trillion in transaction value and provides a comprehensive set of services that are critical for creating and securing tokenized assets onchain. Leveraging Chainlink’s time-tested oracle infrastructure, CCIP achieves the highest level of cross-chain security and features a separate Risk Management Network that independently monitors cross-chain functions for suspicious activity.
“By integrating Chainlink CCIP, Weset provides users with a secure and reliable way to transfer their WECO tokens across leading blockchains,” said Weset.app COO Geoff Turnbull in an official announcement. “This helps foster greater liquidity and a better user experience within the Weset ecosystem, ultimately helping to propel the growth of real-world asset tokenization.”
In the future, Weset plans to expand its use of CCIP across more blockchain networks while integrating additional Chainlink services, such as Price Feeds, to further improve its user experience through Chainlink’s secure and reliable price data.
To learn more about Weset, visit their website, X, Telegram, and Discord.