🔹 Chainlink enables international exchange of CBDC and stablecoin
The Chainlink network has become a key player in the second phase of Hong Kong's ambitious central bank digital currency (CBDC) project – e-HKD. A pilot program is testing cross-border transfers between digital currencies, specifically between Hong Kong’s CBDC and the Australian dollar-backed stablecoin A$DC.
🔹 CCIP and DTA technologies bridge the continents
The entire process is powered by Chainlink’s infrastructure, especially its Cross-Chain Interoperability Protocol (CCIP), which ensures safe and seamless exchange of tokenized assets across different blockchains. Additionally, Chainlink uses its Digital Transfer Agent (DTA) solution to manage and settle transactions in compliance with regulations across jurisdictions.
🔹 Real-time transfers with support from global giants
Other major players are also involved in the project – including Visa, the Australian bank ANZ (issuer of A$DC), and asset managers Fidelity International and ChinaAMC. Thanks to blockchain technology, the exchange of digital currencies happens in real-time with a strong emphasis on security and transparency.
🔹 Chainlink as the foundation for a global payment revolution
A major innovation is the use of the payment-versus-payment (PvP) model, which ensures that digital currency exchanges only occur when both sides meet all conditions – significantly reducing counterparty risk. Chainlink plans to further develop this model to support the entire transaction lifecycle, paving the way for 24/7 blockchain-based markets.
🔹 Growing interest in stablecoins from tech giants like Apple and Google
As cross-border payments become increasingly important, tech giants such as Apple, Google, Airbnb, and X (formerly Twitter) are exploring stablecoin solutions. The developments in Hong Kong and Australia may just be the beginning of a larger global trend.
🔹 LINK token price on the rise
The announcement of the pilot program was met with a positive market reaction. The native token LINK rose nearly 2% and is currently trading around $14.06. Optimism is further boosted by speculation that Bitcoin could hit $110,000 within days, which increases overall investor confidence in the crypto market.
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