Chainlink, a decentralized oracle network, has collaborated with SBI Digital Markets (SBIDM), the digital asset business of Japan’s SBI Group, to build digital asset solutions through its Cross-Chain Interoperability Protocol (CCIP).
The partnership, which was announced in Singapore today, aims to help connect traditional finance with blockchain-based systems by enabling secure tokenized fund operations across multiple blockchains.
Turning finance into a connected network
SBI Digital Markets said in a press release that it will use Chainlink’s CCIP as its main system for linking blockchains on its digital asset platform. With this setup, the company can now help clients issue, settle, and trade tokenized securities across both public and private blockchains while maintaining privacy and regulatory compliance. It also includes privacy tools to make sure transaction details, such as the amount and the sender, stay hidden from public view.
This partnership builds on earlier work done under the Monetary Authority of Singapore’s Project Guardian, where Chainlink, SBI Digital Markets, and UBS Asset Management used blockchain to automate and improve parts of the fund management process.
Bringing old and new finance together
“Our vision for the future of capital markets is built on an interconnected global platform – this can only be realized with an interoperable and secure infrastructure. Through our exclusive access to these asset classes, SBI Digital Markets is in a unique position to structure and distribute digital assets across TradFi and DeFi networks.” CK Ong, Chief Operating Officer at SBI Digital Markets, said in the press release.
With this initiative, SBI Digital Markets is advancing from issuing and distributing tokenized assets into a full-scale digital asset hub that covers issuance, settlement, and secondary trading. Additionally, the company is testing Chainlink’s Automated Compliance Engine, a system that helps apply financial rules directly to blockchain transactions.
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