Chainlink Aims to Play a Key Role in the Growth of Tokenized Real-world Assets (RWAs)

Tokenized RWAs are quickly becoming one of the biggest opportunities in blockchain. Experts predict that by the 2030s, RWAs could be worth tens of trillions of dollars.

Chainlink is quickly becoming one of the biggest opportunities in blockchain.

Experts predict that by the 2030s, real-world assets (RWAs) could be worth tens of trillions of dollars. These will be fully tokenized and used across multiple blockchains.

The decentralized oracle network is providing the technology to support and scale tokenized assets. Already, several major institutions and platforms are using Chainlink to build or improve their tokenized asset systems.

Here are some of the key RWA alliances that Chainlink has forged:

Coinbase is using Chainlink’s tools for full lifecycle management of tokenized assets in Project Diamond. It helps keep the project compliant while offering secure cross-chain functionality.

Fireblocks has joined forces with Chainlink Labs to help banks and financial institutions safely and legally create and use stablecoins in global markets. Together, they help stablecoin issuers secure asset minting, pricing, compliance, custody, and transfer of assets.

Taurus has teamed up with Chainlink to solve three major problems in the tokenized RWA space: security, price accuracy, and asset movement across blockchains. They have already tested moving USDC between on-chains using Chainlink’s CCIP.

OpenEden, a leading RWA platform, uses LINK’s price feeds and cross-chain tools to improve the functionality of its USDO stablecoin.

Backed, in partnership with Sonic and Fortlake Asset Management, is using Chainlink to tokenize traditional assets and bring them into DeFi. The project’s protocol powers these tokens’ price feeds, collateral verification, and cross-chain movement.

Sygnum and Fidelity International are using the project to bring Net Asset Value (NAV) data onchain for a $6.9 billion liquidity fund. This initiative allows real-time updates and better access to fund data.

Another startup that has integrated with Chainlink is Fasanara, a digital investment manager. The startup recently launched a money market fund on the Polygon blockchain.

The firm is using project’s tools to help verify asset backing and support the fund’s smooth operation across chains.

Spiko, in partnership with CACEIS, is using Chainlink to bring NAV data of its EUR and USD money market funds onto Ethereum network. It is a first in the European Union and it sets a new standard in fund transparency.

Other known names like PayPal’s PYUSD stablecoin, issued by Paxos, has adopted Chainlink price feed on Ethereum. This integration helps to ensure accurate and decentralized pricing data.

Ripple’s RLUSD stablecoin also relies on Chainlink for reliable pricing. It helps the stablecoin find more use in DeFi applications.

With so many high-profile partnerships and growing adoption, many expect the price of LINK, the native token of the oracle network, to breakout.

At the time of writing, LINK price was at $12.62, an increase of 1.66% in the last 24 hours.

Notably, the broader crypto market is currently facing volatility, which may be impacting the asset’s value. However, an expert predicted the token could breakout if it continues to show resilience and breaks critical support.