Chainlink and Suhoio form a strategic partnership to explore tokenized assets and CBDCs in Asia

• Chainlink announces partnership with blockchain financial technology firm Suhoio on Twitter.
• The partnership aims to develop use cases for tokenized assets and CBDC in emerging Asian digital markets including South Korea, Japan and Thailand.
• The collaboration will focus on implementing Chainlink’s CCIP Protocol for South Korean financial institutions.

Chainlink (LINK) on Monday announced a strategic partnership with Suhoio, a blockchain financial technology company from South Korea. Chainlink’s price rose 4% on Monday and is trading at $10.71 on Tuesday. The partnership focuses on developing use cases for tokenized assets and central bank digital currencies (CBDCs) in emerging digital markets in Asia, including South Korea, Japan and Thailand.

Chainlink is partnering with a South Korean blockchain company

On Monday, Chainlink, an Oracle Networks-based cryptocurrency, announced a partnership with Suhoio, a South Korean blockchain company, in a Twitter post.

This partnership aims to develop use cases for tokenized assets and central bank digital currencies (CBDCs) in emerging digital markets in Asia, including South Korea, Japan and Thailand. The two companies plan to accelerate the growth of the digital asset market and support the adoption of blockchain technology by financial institutions.

The collaboration will mainly focus on implementing Chainlink’s Cross Interoperability Protocol (CCIP) for South Korean financial institutions. It will use Chainlink’s Proof of Reserve to authenticate prepaid reserves. Thus, on-chain Net Asset Value (NAV) data will be provided to assess the value of your assets in real-time and manage your tokenized assets more efficiently. This move will benefit the project as the tokenization of real assets accelerates and investors can invest in a wider variety of assets.

“We also look forward to making great strides in financial inclusion. In particular, the introduction of CBDCs will make financial services more accessible to more people. Even those who could not afford a bank account will be able to access basic financial services. through digital currencies, making them more accessible to the underprivileged”. Suhoio said in the blog post.