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- Zoniqx, a platform for tokenizing real-world assets, has integrated Chainlink’s Cross-Chain Interoperability Protocol (CCIP) on 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 offers users 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 would integrate Chainlink’s solutions into its DyCIST and TALM solutions.
RWA platform @zoniqxinc is integrating #Chainlink CCIP and Proof of Reserve on @ethereum to help unlock the full utility of tokenized assets.
Why Zoniqx is all-in on 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 change how assets are tokenized, managed and exchanged. TALM, on the other hand, is its Tokenized Asset Lifecycle Management solution, which is built to encompass the entirety of an asset’s digital lifecycle.
While crypto was initially seen as anti-establishment, blockchain has grown beyond this limiting perception, and today, multi-trillion-dollar institutions are using it to tokenize assets. As we have reported, the likes of $10 trillion BlackRock and $1.5 trillion Franklin Templeton have all issued tokenized funds.
With the entry of these major companies, transparency has become a critical need for any tokenization platform. This is what Zoniqx believes it will gain by integrating Chainlink’s solutions, according to its press release.
With CCIP, Zoniqx will target interoperability. As the number of blockchains has surged and the assets on each have continued to grow, interoperability has become the make-or-break factor.
As we have reported several times, Chainlink’s CCIP is the global leader in this field, with several dozen blockchains using it to open their networks to other ecosystems. CCIP has a presence in all major blockchains in various capacities, 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 face the daunting task of creating bespoke solutions for each cross-chain interaction—an inefficient and costly endeavour,” Zoniqx explained.
Chainlink and Zoniqx Target the $16 Trillion Tokenization Industry
According to an oft-cited report, tokenization is expected to unlock $16 trillion by the decade’s end. With this in mind, platforms like Zoniqx are positioning themselves to exploit this market.
The California-based company makes this easy, efficient and cost-effective, offering end-to-end tokenization solutions, from security token issuance to liquidity management to secondary trading. Its EVM-based proprietary platform is interoperable with several networks, opening up more opportunities for users. It further allows automation through its ecosystem of SDKs and APIs.
Zoniqx CEO Prasanth Kalangi commented:
By integrating Chainlink CCIP and Proof of Reserve, essential tokenization infrastructure, we are significantly enhancing the security and transparency of our tokenization solutions, improving RWA transparency, and enhancing the way assets are managed and traded globally.
Zoniqx has notched notable projects on its network. This includes a $3.2 billion commercial real estate tokenization project, tokenized bank deposits, tokenization of corporate equity and venture capital funding, and more.
Meanwhile, LINK trades at $13.9, dipping 1.5% in the past day as the overall market cap went down by 1.09%.