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 Vietnam Tribune 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 Vietnam Tribune.
More InformationNew Delhi [India], July 13 (ANI): Bharatiya Janata Party (BJP) leader Amit Malviya on Sunday targeted West Bengal Chief Minister Mamata...
By Vishu Adhana Beijing [China], July 13 (ANI) External Affairs Minister S Jaishankar will arrive in Beijing on Sunday evening,...
Patna (Bihar) [India], July 13 (ANI): A large number of individuals from Nepal, Bangladesh and Myanmar have been found by Booth Level...
Singapore City [Singapore], July 13 (ANI): External Affairs Minister S Jaishankar held a meeting with his Singapore counterpart Vivian...
Bhopal (Madhya Pradesh) [India], July 13 (ANI): In association with the Embassy of Nepal in India, PHDCCI India-Nepal Centre organised...
Islamabad [Pakistan], July 13 (ANI): Islamabad District and Sessions Court has granted temporary relief to five more content creators,...
DUBAI, U.A.E.: A cargo ship flagged under Liberia, known as the Eternity C, sank in the Red Sea following an attack executed by Yemen's...
WASHINGTON, D.C.: The Trump administration has started sending some weapons to Ukraine again, just a week after the Pentagon told officials...
ECAULT BEACH, France: On clear days, the white cliffs of the United Kingdom, are visible from northern France, where men, women, and...
ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...
In the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...
LONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...