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BlockNews
Home BREAKING NEWS

Chainlink Launches New Sandbox for Institutional Digital Asset Trials

Matoy by Matoy
July 18, 2024
in BREAKING NEWS, BUSINESS, CRYPTO
Reading Time: 2 mins read
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  • Chainlink introduces Digital Assets Sandbox (DAS) to aid financial institutions in tokenization trials like bond tokenization.
  • The DAS aims to cut down the time needed for developing digital asset proofs of concept from months to days.
  • Large financial players predict the global market for tokenized assets could reach up to $16 trillion by 2030.

Chainlink recently unveiled a platform designed to streamline the experimentation process for financial institutions in the digital assets space. The Digital Assets Sandbox (DAS) is set to enhance how quickly financial entities can test and potentially adopt new digital asset systems, including tokenization of various financial instruments.

Streamlining Innovation

The DAS initiative provides a controlled environment where institutions can develop and refine digital assets and strategies without the lengthy timelines that typically hamper such innovations. Angela Walker, the global head of banking and capital markets at Chainlink Labs, emphasized the demand for secure testing environments that led to the creation of the DAS. This platform allows institutions to execute proof of concept models in days rather than months, which is crucial for keeping pace with the fast-evolving digital asset sector.

Broadening Horizons

Beyond just tokenizing bonds, the sandbox offers tools for experimenting with real-world asset tokenization, which could revolutionize how physical assets are handled digitally. Kevin Johnson from Euroclear pointed out the sandbox’s role in helping market participants gauge the technological impacts on their business operations and models.

According to the Global Financial Markets Association, the tokenization of assets could potentially grow to a $16 trillion market by 2030. This projection underscores the vast potential and importance of developing robust and efficient tools for digital asset experimentation and implementation. Chainlink’s DAS could be pivotal in enabling the financial sector to tap into this immense market opportunity effectively and securely.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: Chainlink
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Matoy

Matoy

If Matoy is not busy looking at the latest Web3 news, he's always in the kitchen cooking delicious meals for his family. He's also a competitive fighting game player and a car enthusiast

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