- Zoniqx, a platform for tokenizing real-world assets, has integrated Chainlink’s Cross-Chain Interoperability Protocol (CCIP) onto its DyCIST and TALM platforms.
- Zoniqx has anchored notable projects, including the tokenization of a $3.2 billion commercial real estate project on its TPaaS technology.
Zoniqx, a company whose platform provides users with seamless and interoperable tokenization solutions, has integrated Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and proof of reserve solutions to unlock new capabilities.
Zoniqx announced this week that it will integrate Chainlink’s solutions into its DyCIST and TALM solutions.
RWA platform @zoniqxinc integrates #Chainlink CCIP and Proof of Reserve on @ethereum to help unlock the full utility of tokenized assets.
Why Zoniqx is all-in for Chainlink’s essential tokenization infrastructure ⬇️ https://t.co/Bq8KXacB6g
— Chainlink (@chainlink) July 23, 2024
DyCIST is Zoniqx’s Dynamic Compliant Interoperable Security Token, whose solutions transform the way assets are tokenized, managed and exchanged. TALM, on the other hand, is the Tokenized Asset Lifecycle Management solution, which is built to encompass the entire digital lifecycle of an asset.
While crypto was initially seen as anti-establishment, blockchain has moved beyond this limiting perception, and today multi-trillion dollar institutions use it to tokenize assets. As we’ve reported, companies like $10 trillion BlackRock and $1.5 trillion Franklin Templeton have all issued tokenized funds.
With the advent of these major companies, transparency has become a crucial need for any tokenization platform. This is what Zoniqx expects to gain by integrating Chainlink’s solutions, according to the press release.
With CCIP, Zoniqx will focus on interoperability. As the number of blockchains has skyrocketed and the assets on each have continued to grow, interoperability has become the make or break factor.
As we’ve reported several times, Chainlink’s CCIP is the global leader in this space, with several dozen blockchains using it to open up their networks to other ecosystems. CCIP is present in various capacities across all major blockchains, from Polygon and BNB Chain to Ethereum and its legion of Layer 2s to Arbitrum and Gnosis.
“Without CCIP as a standardized protocol, developers would be faced with the daunting task of creating customized solutions for every cross-chain interaction – an inefficient and costly undertaking,” Zoniqx explains.
Chainlink and Zoniqx are targeting the $16 trillion tokenization industry
According to an oft-cited report, tokenization is expected to generate $16 trillion by the end of the decade. With this in mind, platforms like Zoniqx are positioning themselves to exploit this market.
The California-based company makes this simple, efficient and cost-effective, offering end-to-end tokenization solutions from security token issuance to liquidity management and secondary trading. The EVM-based proprietary platform is interoperable with various networks, opening up more options for users. It further enables automation through its ecosystem of SDKs and APIs.
Prasanth Kalangi, CEO of Zoniqx, commented:
By integrating Chainlink CCIP and Proof of Reserve, a critical tokenization infrastructure, we significantly improve the security and transparency of our tokenization solutions, improve RWA transparency, and improve the way assets are managed and traded globally.
Zoniqx has noted notable projects on its network. This includes a $3.2 billion commercial real estate tokenization project, tokenized bank deposits, tokenization of corporate assets and venture capital financing, and more.
Meanwhile, LINK is trading up $13.9immerse 1.5% in the past day when the total market capitalization fell by 1.09%.