BTguru And Chainlink Join Forces To Propel Tokenization in Turkey

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BTguru And Chainlink Join Forces To Propel Tokenization in Turkey

Chainlink will soon partner with BTguru, a virtual and crypto assets firm in Turkey. Their objective is to bring tokenized securities to institutional investors. This collaboration offers a solution to some of the underlying problems facing the tokenized asset market and creates a secure and compliant means of accessing the products.

Chainlink’s services, which BTguru will implement, include CCIP, data services, and proof of reserves. These tools will help BTguru start tokenization and improve interconnection, stability, and security for Turkish financial companies regulated by the authorities.

Can Bukulmez, Managing Partner of BTguru, stated, “The Chainlink standard will help us provide financial institutions with the necessary instruments. It will also enable tokenized assets to reach their full potential in functionality, compliance, and security.”

BTguru and Chainlink Address Tokenization Market Challenges

The partnership addresses major challenges associated with the tokenized asset market, such as data connectivity, compliance, and risk. When integrated with Chainlink’s Oracle network, the initiative will allow secure access to key data such as price feeds, proof of reserves, asset value, and more, including identity verification.

Adding tokenized asset real-time data synchronization to the Chainlink platform will encourage trust in the emerging global tokenized economy and seamless interconnection of blockchains.

David Fuchs, Head of Business Development for EMEA at Chainlink Labs, said this collaboration is important. “Chainlink will help BTguru meet compliance and security standards necessary for institutional-quality Digital Assets and drive innovation and trust in the emerging Tokenized Asset Economy,” Fuchs added.

This partnership could have been a major development in the tokenization process in Turkey’s financial space. BTguru has and intends to launch a new set of products and services connected to Chainlink soon to equip local Turkey-regulated banks and financial institutions with advanced digital asset services.

The move comes against the backdrop of increasing partners adopting Chainlink’s technology. Within the year of July 2024, BTguru has partnered with Tether for the utilization of Real World Asset (RWA) in Turkey based banks. Some other platforms that engage Chainlink’s Oracle network are Aptos Mainnet and Ripple.

As Turkey advances towards establishing itself as the center of blockchain development, the collaboration between BTguru and Chainlink will likely contribute greatly to advancing tokenized securities. This could provide a new standard for institutional-grade digital asset management, meeting critical industry challenges and securing compliant solutions.

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