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Chainlink Launches CCIP Private Transactions, ANZ Bank Pilots New Feature

Chainlink Launches CCIP Private Transactions, ANZ Bank Pilots New Feature

CoineditionCoinedition2024/10/21 16:00
By:Coin Edition
  • Chainlink introduces CCIP Private Transactions to enhance blockchain privacy for institutions.
  • ANZ will test Chainlink’s solution for cross-chain token settlements under Project Guardian.
  • LINK shows upward momentum with bullish indicators, suggesting potential for further growth.

Chainlink has expanded its services with the launch of CCIP Private Transactions. This new privacy-preserving feature, which is powered by the Chainlink Blockchain Privacy Manager, will help financial institutions maintain integrity and safety when transacting across blockchain networks.

The Australia and New Zealand Banking Group (ANZ) is one of the first to use this technology. The bank will pilot the solution for cross-chain settlement of tokenized real-world assets as part of Singapore’s Monetary Authority Project Guardian initiative.

This addresses the challenges that have hindered institutional acceptance of blockchain. Until now, it’s been difficult for financial institutions to meet regulatory requirements, including the European Union’s General Data Protection Regulation (GDPR) and Markets in Financial Instruments Directive II.

Chainlink’s CCIP Private Transactions will allow financial institutions to work with different blockchain networks while complying with regulatory standards. Institutions can use CCIP to transfer data and value between public and private blockchain ecosystems.

Nigel Dobson, ANZ’s Banking Services Lead, said that the new privacy capability could increase institutional adoption of blockchain technology. He said their partnership with Chainlink Labs will pilot CCIP and show how to solve this ongoing privacy issue.

Current Market Trends and Technical Indicators

Chainlink’s market response has been bullish since this announcement. LINK, which is valued at $12.02, rose 2.67% over the past 24 hours. The token has been climbing after falling to $11.60.

Chainlink Launches CCIP Private Transactions, ANZ Bank Pilots New Feature image 0 Chainlink Launches CCIP Private Transactions, ANZ Bank Pilots New Feature image 1 Source: CoinMarketCap

Technical indicators suggest that this bullish trend may continue. The MACD recently crossed into positive territory, showing growing buying pressure.

Chainlink Launches CCIP Private Transactions, ANZ Bank Pilots New Feature image 2 Chainlink Launches CCIP Private Transactions, ANZ Bank Pilots New Feature image 3 Source: TradingView

Additionally, the RSI is at 59.03, which means the token has room to grow before becoming overbought. If LINK can break through the $12.50 resistance level, it could go higher.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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