Key Highlights:
- Chainlink’s LINK token rose 2.5%, surpassing $24 due to a partnership with DigiFT and UBS aimed at automating fund operations in Hong Kong.
- The collaboration received approval from Hong Kong’s Cyberport Blockchain and Digital Asset Pilot Subsidy Scheme for developing tokenized financial products infrastructure.
- Chainlink also introduced its Cross-Chain Interoperability Protocol on the Aptos blockchain to enhance connectivity for decentralized finance solutions.
Details:
Chainlink’s LINK token showed a notable increase to above $24 as it enters into a joint venture with DigiFT and UBS. This initiative seeks to automate transaction processes for tokenized funds in Hong Kong. The initiative received endorsement under Hong Kong’s Cyberport program, aiming to reduce delays and errors from manual paperwork by employing smart contracts for transactions.
Investors will use DigiFT’s smart contracts to order tokenized products, while Chainlink facilitates transaction processing on-chain, enabling the issuance and redemption processes for UBS’s token contracts.
Additionally, Chainlink made its Cross-Chain Interoperability Protocol available on Aptos, improving connectivity for both decentralized finance applications and corporate treasury management solutions.
