Chainlink Launches Digital Asset Sandbox for Financial Institutions

Today, Chainlink, a decentralized blockchain oracle network built on top of Ethereum, unveiled its new digital asset sandbox (DAS).

This transformative platform will accelerate digital asset creation in the financial sector. It provides financial institutions with a streamlined and secure environment to test and develop digital asset applications, increasing their operational efficiency and market readiness.

Explore digital asset solutions with Chainlink's latest offering

Leveraging Chainlink's industry-standard platform, DAS enables institutions to experiment. You can explore different use cases like bond tokenization in a sandbox setting.

For example, institutions can use Chainlink DAS to explore bond issuance in a sandbox, converting traditional bonds into digital tokens. These tokens can be used as collateral or traded on multiple chains for settlement versus payment (DvP). This platform allows testing other real-world digital asset use cases involving various financial instruments throughout their lifecycle.

Read more: What is Chainlink (LINK)?

In addition, Sandbox users receive support and consulting services from ChainLink Labs, the main developer contributing to ChainLink. This enterprise-class sandbox is powered by ChainLink's industry-class platform and has facilitated more than $12 trillion in transaction value. It is at the forefront of pioneering chains globally, partnering with industry leaders such as Swift, ANZ Bank, Fidelity International, Sygnum and others.

Chainlink Labs is dedicated to developing the next stages of product roadmaps and expertly guiding institutions through the entire adoption process, including research, testing, development and production. Angela Walker, Head of Global Banking and Capital Markets at ChainLink Labs, said ChainLink DAS addresses this need by enabling institutions to rapidly generate concepts in days and leverage ChainLink Labs' research and development expertise to bring these use cases to life. .

“The institutional world needs access to the blockchain industry, and ChainLink is a safe and secure standard that has the potential to facilitate on-chain finance at scale, improving the infrastructure of the financial industry,” she told BeinCrypto.

Institutional investors eye Chainlink expansion capabilities

Chainlink has attracted particular attention, especially from institutional investors, due to its increasing interaction with financial services and blockchain. One of its main attractions is the ChainLink Cross-Chain Interoperability Protocol (CCIP). This protocol provides a straightforward interface for decentralized applications (dApps) and Web3 developers, meeting their on-chain needs securely.

By enabling the transfer of data, tokens, or a combination of both, CCIP supports smart contracts and externally owned accounts. This facilitates seamless connections across different blockchains.

Chainlink CCIP now supports nine major blockchains. These nine blockchains are Arbitrum, Avalanche, Base, BNB Chain, Ethereum, Kroma, Optimism, Polygon and WEMIX.

This expansion was critical to attracting institutional attention as it increased the usability and accessibility of Chainlink services. For example, the Depository Trust and Clearing Corporation (DTCC) completed its Smart NAV pilot in May.

In addition, Chainlink's collaboration with several banking institutions has further strengthened its reputation. Institutions such as Citi, BNP Paribas, Lloyds Bank and Deutsche Bank have shown interest in Chainlink's offerings.

Read more: How to buy Chainlink (LINK) and everything you need to know

Interest is also seen in LINK whale stock, which is ChainLink's native token. According to on-chain monitoring platform Lookonchain, As of July 14, 93 hot wallets have withdrawn 12.75 million LINK, worth approximately $167 million, from Binance since June 24.