PR Newswire
26 Jul 2023, 12:30 GMT+10
![]() |
The collaboration delivers a novel real world asset tokenization use case of Chainlink PoR minting function
SINGAPORE, July 26, 2023 /PRNewswire/ -- Matrixdock, a digital assets platform that provides access to real-world assets through tokenisation has completed its integration of Chainlink Proof of Reserve (PoR) on Ethereum mainnet to enhance transparency of its Tokenized Treasury Bill ("T-Bill") offering. Matrixdock is a brand owned by Matrixport.
The integration supports Matrixdock's flagship Short-term Treasury Bill token ("STBT"), which enables stablecoin holders to get exposure to U.S. Treasury securities maturing within six months and reverse repurchase agreements collateralized by the U.S. Treasury securities. Chainlink PoR empowers Matrixdock stakeholders to monitor reserves, ensuring that its tokenized T-Bills offering is sufficiently backed by the U.S. Treasury securities.
Cynthia Wu, Chief Operating Officer, Matrixport, shared, "We are thrilled to work alongside Chainlink for this market leading real world asset tokenization PoR. Real world asset tokenization is expected to become a major theme for the digital assets ecosystem in the coming years, adding tens of trillions of dollars to the market. Real world asset tokenization will greatly enrich the scale and variety of assets available on-chain as our industry matures. Our collaboration with Chainlink resolves transparency challenges with validation of off-chain assets with its on-chain tokenized representation."
Chainlink PoR provides on-chain visibility, allowing any user to independently verify asset collateralization. By tapping into Chainlink's automated on-chain verification and secure mint function, Matrixdock is also able to increase speed-to-market for tokenization projects and enhance tokenized asset security.
Mark Scrine, Business Lead for Proof of Reserve at Chainlink Labs, shared, "We're excited by Matrixdock's novel integration of Proof of Reserve as a key driver of technological innovation. Proof of Reserve provides autonomous and reliable asset monitoring and relies on Chainlink's battle tested infrastructure. We look forward to continuing to explore potential use cases with Matrixport and help our industry develop in a secure and efficient manner."
With the evolving macroeconomic environment, real-world asset tokenization has risen as one of the innovative topics at the intersection of traditional and digital assets. According to a recent Bank of America Global Research report, over the next decade, asset tokenization may reach over $16 trillion, transforming financial infrastructure and markets. Since its launch in February 2023, STBT's total supply has reached over $99 million as of 26 July 2023, with 7-day average APY of ~4.7% .
About Matrixdock
Matrixdock, a digital assets platform that provides access to real-world assets through tokenization. It is a brand owned by Matrixport, one of the world's largest and most trusted digital assets financial services ecosystem. For more information, please visit www.matrixdock.com. For STBT purchase restrictions, visit this link.
Get a daily dose of Asia Bulletin news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Asia Bulletin.
More InformationGaza Faces Imminent Famine as Aid Blockade Enters 70th Day, UN Warns The entire population of Gaza is now at critical risk of famine,...
WASHINGTON, D.C.: The Republican-led U.S. House of Representatives has passed a bill to rename the Gulf of Mexico as the Gulf of America,...
HARRISBURG, Pennsylvania: People in Pennsylvania who are 21 or older could soon be allowed to legally buy and use marijuana. The state...
AUSTIN, Texas: Six people in a small Texas county have been charged with serious crimes as part of a growing election investigation...
WASHINGTON, D.C.: The Federal Aviation Administration (FAA) says it is taking urgent steps to fix problems that have caused hundreds...
WASHINGTON, D.C.: This week, U.S. Defense Secretary Pete Hegseth ordered a 20 percent cut in the number of four-star generals and admirals,...
NEW YORK, New York - U.S. stocks surged on Monday following news that the Trump administration had agreed to a 90-day reduction of...
SYDNEY, NSW, Australia - Stocks in Asia and the pacific have closed significantly higher following ceasefires in India-Pakistan hostilities,...
TOKYO, Japan: Toyota Motor Corp is bracing for a 21 percent decline in full-year profit, as the impact of President Donald Trump's...
HELSINKI, Finland: In response to rising geopolitical risks, Finland, Sweden, Norway, Denmark, and Estonia are preparing to roll out...
CHICAGO, Illinois: All U.S. airlines are feeling the impact of falling travel demand caused by President Trump's trade war. But low-cost...
SANTIAGO, Chile: Amazon Web Services (AWS) will invest US$4 billion to establish its first data centers in Chile, aiming to tap into...