The Australia and New Zealand Banking Group (ANZ) has partnered with Chainlink Labs, making strides in blockchain interoperability by linking the Avalanche and Ethereum networks. Utilizing Chainlink’s Cross-Chain Interoperability Protocol (CCIP), ANZ showcased a method for clients to seamlessly trade and settle tokenized assets across different currencies on these networks. This initiative hinges on the “Delivery vs. Payment” (DvP) standard, potentially revolutionizing the way securities transactions are settled by ensuring atomic, non-intermediated settlements across blockchain infrastructures.

This collaboration saw ANZ facilitating a transaction where a customer acquired a tokenized New Zealand dollar stablecoin via Avalanche and used it to buy tokenized Australian nature-based assets on the Ethereum network, priced in a tokenized Australian dollar stablecoin. This exercise underscores the merging paths of traditional and decentralized finance, positioning ANZ to further deploy this solution on blockchain mainnets, aiming to modernize financial services industry’s asset settlement processes.

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