- zenGate integrates Chainlink to enhance blockchain-based trade finance with on-chain traceability and transparency.
- Chainlink’s infrastructure accelerates ZenGate’s tokenization in the real world, expanding its impact in emerging markets.
zenGate Global has announced a huge step by integrating Chainlink’s decentralized oracle and tokenized real-world asset (RWA) infrastructure into its international blockchain-based commodity and trade finance platform.
Leveraging Chainlink’s advanced technologies along with Ergo and Cardano’s blockchains, this strategic integration seeks to enhance zenGate’s tokenization and traceability solution, Winter Protocol.
.@ZengateGlobal leverages #Chainlink’s platform for tokenized RWAs.
Using features and Proof of Reserve, zenGate Global helps improve transparency and security for tokenized assets in the supply chain industry 🏗️🌍 https://t.co/oRSCWo0qRD
— Chainlink (@chainlink) June 20, 2024
Integration of Chainlink features and Proof of Reserve
Proof of Reserve (PoR) and Chainlink Functions are two features that ZenGate Global is about to introduce that will completely change supply chain traceability. With the on-chain release of accurate and reliable asset reserve data enabled by this integration, trade finance and collateral management will enter a new era of openness.
As a result of Winter Protocol’s open-source design, other Cardano and Ergo projects will be able to use Chainlink’s technology, driving broader platform adoption.
ZenGate Global’s Palmyra Platform seeks to close a $2.5 trillion trade finance and access gap in commodities trading. The Palmyra Platform now operates in East Africa, India, Indonesia, Sri Lanka and Nepal and is well positioned to have a major impact on emerging markets.
The aim is to give manufacturers, companies and consumers in these areas access to the latest technology to stay at the forefront of the international economy.
By integrating Chainlink’s PoR and Functions, zenGate Global can accelerate its tokenized real-world asset projects. Chainlink’s scalable infrastructure will make it easier for the zenGate platform to spread across multiple blockchains more quickly and provide a strong foundation for future expansion.
Chainlink’s proven infrastructure gives ZenGate a reliable and secure operating environment that has earned the trust of some of the largest financial institutions in the world. This integration ensures the highest levels of security and reliability in ZenGate’s blockchain applications.
Extensive connectivity
Chainlink offers a wide range of connectivity, linking smart contracts to IoT devices, enterprise systems and public or password-protected APIs. application of complete and reliable blockchain solutions requires this connection.
“The Chainlink platform enables zenGate to push the boundaries of blockchain tools, leveraging Chainlink’s tokenization infrastructure to address complex challenges in the commodities sector and trade finance,” said Daniel Friedman, CEO of zenGate Global .
Meanwhile, the price of Chainlink (LINK) is approx $14.30 down, according to the latest CoinMarketCap data 1.23% in the last 24 hours and 7.15% in the previous week.
As CNF previously reported, Chainlink was incorporated by Bitcoin reserve promoter dlcBTC to improve its cross-chain capabilities. This action further highlights the increasing recognition and use of Chainlink’s technology in the financial and blockchain industries.