Chainlink Has Recently Connected e-HKD and A$DC: Here’s Why This Is Significant
“What is Chainlink Crypto” is making waves on Google once more as Chainlink’s CCIP has reached a significant milestone by successfully connecting Hong Kong’s e-HKD crypto asset with Australia’s A$DC stablecoin.
This experiment, part of the HKMA-led Phase 2 e-HKD+ initiative, demonstrated the potential of blockchain advancements and attracted prominent partners like Visa, ANZ, and Fidelity International.
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The e-HKD+ program seeks to discover practical use cases for Hong Kong’s CBDC by concentrating on important aspects such as programmability, tokenization, and near real-time settlement of cross-border transactions. The recent trial focused on facilitating seamless exchanges between e-HKD and tokenized assets.
The e-HKD itself is an experimental version of a digital Hong Kong dollar built on Ethereum’s ERC-20 standard, highlighting the shift towards distributed database in institutional finance.
Chainlink’s CCIP was crucial in linking Australian bank ANZ’s private blockchain (DASchain) with Ethereum’s testnet, Sepolia.
Utilizing Chainlink’s infrastructure, the procedure guaranteed that both the e-HKD and A$DC components of the transaction were settled almost immediately.
Chainlink’s Price Rise and Optimistic Momentum
Following this successful trial, Chainlink’s LINK token surged, increasing by 7% over the past 24 hours and trading above $14. Traders are uptrend, with technical indicators suggesting further possible gains.
Chainlink’s present base level level at $15.23 remains stable, setting the groundwork for a possible ascent. Barrier level exists at $16.19, but a strong effort could pave the way for a progression towards $18.81.
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Chainlink’s CCIP is emerging as a central player in blockchain interoperability, serving as the vital connection between decentralized ledgers and traditional finance.
With the e-HKD trial hitting all the right marks, Chainlink is establishing itself as a key participant in the cryptocurrency landscape.
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Key Takeaways
- “What is Chainlink Crypto” is gaining momentum again on Google because Chainlink’s CCIP has reached a significant milestone by successfully linking Hong Kong’s e-HKD
- By utilizing Chainlink’s framework, the transaction process assured that both the e-HKD and A$DC components were completed almost instantaneously.
The post Chainlink Just Bridged e-HKD and A$DC: Here’s Why It Matters appeared first on 99Bitcoins.
