Demex Daily #165: Celo Adopts Chainlink's CCIP for Improved Cross-Chain Operations and Asset Tokenization

What’s Interesting Today:

Celo, an Ethereum layer-2 network, has integrated Chainlink's Cross-Chain Interoperability Protocol (CCIP) to enhance cross-chain operations and access real-world price data. This integration is expected to boost the growth and adoption of the Celo ecosystem by providing top-tier cross-chain security. Chainlink's CCIP acts as a foundational layer for communication between public blockchains and traditional financial systems. Notably, Chainlink has piloted this technology with SWIFT and the Depository Trust and Clearing Corporation (DTCC), involving major banks like JP Morgan and BNY Mellon to tokenize real-world assets on the blockchain. This move aims to address inefficiencies in cross-border transactions, which are typically slow, expensive, and riddled with intermediaries, by leveraging blockchain to streamline processes and reduce costs.

Fetch.ai, SingularityNET, and Ocean Protocol, three AI-focused platforms, have scheduled their crypto token merger for June 13, with Fetch.ai's token FET being renamed to ASI (Artificial Superintelligence Alliance) on June 11. This consolidation aims to create a decentralized AI infrastructure as a counter to potential dominance by tech giants like Microsoft, Alphabet, and Meta. Users can swap FET for ASI starting June 11, with the native tokens of SingularityNET (AGIX) and Ocean Protocol (OCEAN) being convertible after the merger. The move reflects a broader effort to promote transparency and shared data in AI development within the Web3 framework.