“What is Chainlink Crypto” is trending again on Google because Chainlink’s CCIP has hit a milestone successfully linking Hong Kong’s e-HKD digital currency with Australia’s A$DC stablecoin.
This test, part of the HKMA-driven Phase 2 e-HKD+ program, showcased possibilities of blockchain innovation and lured in high-profile collaborators like Visa, ANZ, and Fidelity International.
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The e-HKD+ program aims to uncover real-world use cases for Hong Kong’s CBDC by focusing on key areas like programmability, tokenization, and near real-time settlement of cross-border transactions. The recent trial targeted seamless exchanges between e-HKD and tokenized assets.
The e-HKD itself is a prototype for a digital version of the Hong Kong dollar built on Ethereum’s ERC-20 standard, underscoring blockchain adoption in institutional finance.
Chainlink’s CCIP played a pivotal role by bridging Australian bank ANZ’s private blockchain (DASchain) with Ethereum’s testnet, Sepolia.
By leveraging Chainlink’s infrastructure, the process ensured both the e-HKD and A$DC sides of the transaction were resolved almost instantaneously.
Chainlink’s Price Surge and Bullish Momentum
On the heels of this successful test, Chainlink’s LINK token rallied, gaining 7% in the last 24 hours and trading above $14. Traders are bullish, with technical indicators pointing toward further potential gains.
Chainlink’s current support at $15.23 is holding steady, setting the stage for a potential climb higher. Resistance looms at $16.19, but a strong push could clear the way for an advance toward $18.81.
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Implications for CBDCs and Stablecoins. What is Chainlink Crypto
Chainlink’s CCIP is becoming a centerpiece in blockchain interoperability, providing the connective tissue between decentralized ledgers and legacy finance.
With the e-HKD trial hitting all the right notes, Chainlink is positioning itself as a pivotal player in the digital currency ecosystem.
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Key Takeaways
- “What is Chainlink Crypto” is trending again on Google because Chainlink’s CCIP has hit a milestone successfully linking Hong Kong’s e-HKD
- By leveraging Chainlink’s infrastructure, the process ensured both the e-HKD and A$DC sides of the transaction were resolved almost instantaneously.
The post Chainlink Just Bridged e-HKD and A$DC: Here’s Why It Matters appeared first on 99Bitcoins.