Eddie Lau, CEO of Arta TechFin, is on a mission to meet the growing demand for asset tokenization, potentially reshaping the $867 trillion market of illiquid assets such as real estate.
In a significant move, the leading blockchain oracle network, Chainlink, is strengthening its collaboration with Hong Kong-based asset manager Arta TechFin to usher real-world assets onto the blockchain.
New Partnership
Announced on May 21, this partnership aims to provide comprehensive solutions covering asset origination, secondary trading, and product integrity, addressing the market's evolving needs.
Eddie Lau, CEO of Arta TechFin, stressed that this alliance seeks to fulfill the demand for robust asset tokenization solutions, potentially transforming markets by enabling the electronic trading of illiquid assets worth $867 trillion, including real estate and collectibles.
Real estate transactions, often complex and time-consuming, stand to benefit significantly from tokenization. Leveraging Chainlink's real-time price feeds and CCIP interoperability protocol, seamless interactions between blockchains facilitate asset transfers across different chains.
In 2023, Chainlink collaborated with SWIFT to explore value transfers between blockchain protocols. More recently, Chainlink conducted a pilot program with the Depository Trust & Clearing Corporation (DTCC) and major banks like BNY Mellon and JPMorgan to bring fund data onto the blockchain.
While Chainlink leads the charge, Ripple Labs is also delving into asset tokenization, partnering with industry giants like JPMorgan, Santander, and IBM to tokenize assets such as real estate, stocks, and bonds on its blockchain ledger.
Looking Ahead: The expanded partnership between Chainlink and Arta TechFin signifies a significant stride towards revolutionizing asset tokenization and elevating market integrity.
