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

Odaily News Chainlink's annual flagship conference SmartCon opened yesterday, where Dan Doney, Chief Technology Officer of DTCC Digital Assets, and Laurens Schepens, head of UBS Tokenize, held a special discussion on “the construction of global tokenized financial interoperability layers,” exploring the development direction of blockchain interoperability, data standardization, and institutional-level tokenization. Dan Doney pointed out that DTCC is committed to upgrading the U.S. financial market from T+1 settlement to real-time settlement. DTCC is leveraging Chainlink's data services to introduce institutional financial tools such as collateral management, securities lending, and repurchase agreements based on conversion services. He believes that industry data standards can solve the inefficiencies of traditional processes like corporate actions, potentially saving financial institutions billions of dollars each year and improving end-user efficiency. Laurens, head of UBS Tokenize, introduced that UBS has issued structured notes and money market funds on Ethereum and has completed the first practical transaction based on the Digital Transfer Agent (DTA) standard in collaboration with Chainlink, aiming to achieve interoperability between on-chain and traditional financial systems.