Grayscale said Chainlink will be at the center of the next large phase of blockchain adoption, calling the project the “critical connective tissue” that connects cryptocurrencies to established finance.
In a recent study reportasset manager argued that Chainlink’s (LINK) growing suite of software tools is becoming indispensable infrastructure for tokenization, cross-chain settlements, and a broader shift towards real assets on blockchain rails.
“Today, a more accurate description of Chainlink would be a modular middleware that enables on-chain applications to securely consume off-chain data, interact across blockchains, and meet enterprise-level compliance requirements,” Grayscale wrote.
The company added that this growing reach has helped transform LINK into the largest non-Tier 1 crypto asset by market capitalization (excluding stablecoins), providing investors with exposure to multiple ecosystems rather than a single chain.
Related: Asset Management Grayscale Investments files for US IPO
Chainlink will organize a tokenization boom
According to Grayscale, tokenization is the clearest path where Chainlink’s value becomes obvious. Today, almost all financial assets, from securities to real estate, are still recorded on off-chain ledgers. For these assets to gain the performance and programmability of blockchains, they must be tokenized, verified and connected to external data sources.
“We expect Chainlink to play a key role in coordinating the tokenization process and has announced a number of partnerships, including with S&P Global and FTSE/Russel, that should help it do so,” the asset manager wrote.
The tokenized asset market has adult from USD 5 billion to over USD 35.6 billion by the beginning of 2023, According to to RWA.xyz.
Related: Emory University increases stake in Grayscale’s Bitcoin ETF to $52 million
Chainlink, JPMorgan, Ondo Complete your first cross-chain DvP settlement
In June, Chainlink, JPMorgan’s Kinexys network and Ondo Finance finalized a cross-chain delivery-for-payment (DvP) settlement between the authorized bank payment system and the public blockchain test network.
The pilot connected Kinexys Digital Payments, a JPMorgan authorized payments network, with Ondo Chain’s test network, which specializes in tokenized real-world assets. Using the Chainlink execution environment (CRE) as the coordination layer, the settlement exchanged Ondo’s tokenized US Treasurys fund, OUSG, for fiat payment without the assets leaving their native networks.
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