Chainlink Labs

Top story: 300% rise in digital asset trading volumes for Singapore's DBS Bank Digital Exchange (DDEx) Custodied assets increased 80% in SGD terms and active clients are up 36% for DDEx. The exchange is now considering enabling clients to stake Ethereum and exploring listing stablecoins. Also, DBS is the custodian for Paxos’ upcoming USDL #stablecoin, which was announced last week. More industry news from around the world: 1. European Securities and Markets Authority (ESMA) mandates use of Digital Token Identifier ESMA now requires the use of the standardized Digital Token Identifier (DTI) for crypto-assets, making it a core reference point for EU capital markets. Swift and Six Digital Exchange have already adopted the DTI. 2. Visa showcases tokenized deposit use cases with HSBC and Hang Seng Bank The use case demonstrated multiple settlement processes, including a high-value real estate transaction and Visa card payments. 3. Taiwan central bank starting wholesale CBDC trials The wCBDC will be used for interbank settlement of tokenized deposits, tokenized asset transactions, and programmable transactions known as purpose-bound money. 4. FX payment vs. payment (PvP) tested by DBS, J.P. Morgan, Mizuho, and Partior The proof of concept tested FX payment versus payment (PvP) settlement using Partior’s #blockchain network, with JP Morgan, DBS, and Mizuho as participants. 5. Coinbase and Greengage collaborate on blockchain-based financing for SMEs Coinbase partnered with the London-based financial services provider to help small and medium enterprises (SMEs) access institutional-grade credit markets. In other tokenized RWA projects, Schroders Capital partnered with Hannover Re to tokenize insurance-linked securities—bonds used to hedge risks of extreme weather events—while Fasset and Dinari partnered to provide tokenized securities. 6. Bank for International Settlements – BIS Approves disclosure framework for crypto exposures Banks will be required to disclose qualitative information on their #crypto activities and quantitative information on their exposure to crypto. 7. Invesco US Galaxy sets spot Ethereum ETF fee at 0.25% in latest round of filings The fee is above VanEck’s 0.20% fee and Franklin Templeton’s 0.19% fee. BlackRock, Fidelity, 21Shares, and Grayscale have not disclosed fees. Sources below.

Real World Asset (RWA) tokenization is the next big trend in the blockchain industry and I believe it is on track to hold more onchain value than cryptocurrencies. More in the presentation linked here https://lnkd.in/efutMzd9 , with some key points below. RWAs have already surpassed DeFi in terms of the total value they hold, with DeFi being the biggest trends to redefine the blockchain industry over the last 4 years. The amount of value that can be quickly turned into an RWA is in the tens of trillions, with only a very small percentage currently being in the RWA format. This includes all commodities, all real estate, all funds, and much more. Large institutions like Blackrock, Fidelity, and others are already participating in the RWA trend through tokenized funds, with many more to come. RWAs are a superior format for more secure ownership and transferability of asset via rapid transfer onchain. RWA can be purchased and transferred across different countries and their separate financial systems with less friction than the current system. Providing easier access to global liquidity, a dynamic that has helped grow cryptocurrency for years. RWAs have the ability to hold critical pieces of data that prove important things about the underlying asset much quicker and more effectively than traditional systems. Good examples are Chainlink's usage to put NAV data on-chain for large CSDs and proof of reserve about the current state of an underlying asset. RWAs are in the very early stages of creating efficiency for their assets using onchain logic. As more of a fund’s administration/operations goes on-chain, you eventually get to huge increases in efficiency with even large decreases in the costs of operating a fund. For example, the placing of NAV data on-chain at faster rates than the current system can massively speed up the timeline on which you can redeem, lowering it from months to minutes, which has a large economic benefit.

Chainlink Price Feeds are now live on Starknet mainnet, a layer-2 validity rollup on Ethereum developed by StarkWare. How the industry-standard data solution unlocks next-gen DeFi apps on Starknet: https://lnkd.in/gY3wFWhr

The blockchain industry is converging with the global financial system by replatforming real-world assets into a superior tokenized format. Unified golden records are a key building block to this transformation, and #Chainlink uniquely enables them: https://lnkd.in/gbjibeQr  What is a unified golden record? A unified golden record is a verifiable, persistent, updateable, and interoperable data container that lives on a blockchain and is embedded in the asset’s smart contract. It's a single source of truth for the asset, which can be referenced by all market participants on any chain. It overcomes a key challenge with tokenization—the separation of tokenized assets (i.e., ownership receipts) and key data needed to facilitate transactions such as NAV, proof reserves, pricing, identity, and more. Connecting the two is critical to unlocking liquid and efficient onchain markets. A unified golden record requires: 1. Data enrichment—Tokenized assets need real-world data to facilitate transactions 2. Cross-chain interoperability—Tokens/data must be accessible across by onchain environment 3. Synchronization—Assets must stay updated as they move cross-chain Chainlink is uniquely positioned to support a unified golden record standard that underpins the next era of finance as the Chainlink platform securely relays data to and from public/private blockchains and offchain systems, and enables interoperability between them.

“The tokenized real-world asset category could eventually flip all of cryptocurrency value.” Watch Sergey Nazarov’s full keynote from EthCC ↓ https://lnkd.in/gKjiaXXQ

All roads lead to asset tokenization—with 97% of institutional investors agreeing it will revolutionize asset management. Developers: On July 11 at 2-3:30PM ET, join Chainlink and Avalanche to tokenize your first asset with Chainlink Functions. This is the perfect opportunity to get yourself up to speed with tokenized assets. This masterclass will provide step-by-step instructions on building tokenized real estate and provide a framework for tokenizing virtually any asset. Register today: https://lnkd.in/gk6QD79A

The first-ever Chainlink CCIP Bootcamp is here: 🤖 Build your first cross-chain dynamic NFT  🚕 Move tokens across any #blockchain 🌍 Dive into CCIP’s industry-standard design When: August 5-7 Where: 100% virtual  Why: Expert-led, step-by-step tutorials Register now: https://lnkd.in/gHVgT6pU

Web3 enthusiasts from around the world are attending EthCC, the largest annual European Ethereum gathering. See #Chainlink at key events between July 8-14: https://chain.link/ethcc

Onchain builders, kick off Chainlink SmartCon in Hong Kong with the brightest minds in the blockchain industry at Hacker House on October 28-29. Sign up now: https://lnkd.in/gd-kVeJp

Fortune 100 blockchain initiatives have increased by 39% in the past year—hitting a record high in Q1 2024, according to a recent industry report by Coinbase. Five key insights: 1. The annual settlement volume of stablecoins hit $10 trillion in 2023 (more than 10x the amount of remittances worldwide). 2. Instant settlement is recognized as the number one benefit across both stablecoin and tokenization use cases. 3. The total value of non-stablecoin assets tokenized is roughly $3B based on publicly trackable data, although the Hong Kong Monetary Authority estimates another $3.9B of bonds have been tokenized. 4. Most Fortune 500 executives say their companies will maintain or increase their budget for crypto and onchain projects over the next two years. 5. A record 59% of F100 blockchain initiatives are now at an advanced stage. Read in full: https://lnkd.in/eeQwjbN3