BTguru, a virtual and crypto assets provider in Turkey, has partnered with Chainlink to accelerate the adoption of tokenized securities by institutions.
The partnership will leverage Chainlink (LINK)’s interoperability protocol,data feeds and proof-of-reserve technology, BTguru said in an announcement.
As part of the integration, BTguru will incorporate Chainlink’s Cross-Chain Interoperability Protocol and other tech infrastructure into its digital asset solutions, working alongside Turkey-regulated financial institutions.
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The integration aims to address key challenges that institutions face when entering the tokenized assets market. BTguru plans to roll out this solution in the coming months, offering users enhanced security, data connectivity, reliability, interoperability, and asset utility.
“The Chainlink standard will help BTguru provide financial institutions with the tools they need to unlock the full potential of tokenized assets while ensuring compliance and security at every step,” Can Bukulmez, managing partner at BTguru, said in a statement.
The collaboration will provide banks and other institutions with secure access to critical indicators such as price data, proof-of-reserves, net asset value, and identity information. Chainlink’s oracle network offers multi-chain synchronization of tokenized asset data, enabling off-chain connectivity and cross-chain interoperability.
David Fuchs, head of business development for EMEA at Chainlink Labs, said the partnership would unlock new opportunities for BTguru in the tokenized assets sector.
“Chainlink will enable BTguru to not only meet the stringent compliance and security requirements for institutional-grade digital assets, but also foster innovation and trust in the growing tokenized asset economy,” Fuchs added.
Crypto platforms that have recently tapped into Chainlink’s oracle network include the Aptos mainnet and Ripple, the latter for its stablecoin RLUSD.
In July 2024, USDT issuer Tether announced it had teamed up with BTguru to explore adoption of RWA for Turkey-based banks.
Read more: Ripple partners with Chainlink to improve RLUSD stablecoin pricing
