SmartCon Insights | Open standards and on-chain data interoperability will be key to driving global asset tokenization and upgrading financial infrastructure.

Chainlink's annual flagship conference, SmartCon, opened yesterday. Dan Doney, CTO of DTCC Digital Assets, and Laurens Schepens, Head of UBS Tokenize, held a panel discussion on "Building a Global Tokenized Financial Interoperability Layer," exploring the development direction of blockchain interoperability, data standardization, and institutional tokenization. Dan Doney pointed out that DTCC is committed to upgrading the US financial market from T+1 settlement to real-time settlement. DTCC is leveraging Chainlink's data services to introduce institutional financial instruments such as collateral management, securities lending, and repurchase markets, building upon existing conversion services. He believes that addressing the inefficiencies of traditional processes such as corporate behavior through these industry data standards can save financial institutions billions of dollars annually and improve end-user efficiency. Laurens Schepens, Head of UBS Tokenize, introduced that UBS has issued structured notes and money market funds on Ethereum and has partnered with Chainlink to complete the first test transaction based on the Digital Transfer Agent (DTA) standard, aiming to achieve interoperability between on-chain and traditional financial systems.