Matrixdock, a digital assets platform that provides access to real-world assets through tokenisation has completed its integration of Chainlink Proof of Reserve (PoR) on Ethereum mainnet to enhance transparency of its Tokenized Treasury Bill (“T-Bill”) offering. Matrixdock is a brand owned by Matrixport.
The integration supports Matrixdock’s flagship Short-term Treasury Bill token (“STBT”), which enables stablecoin holders to get exposure to U.S. Treasury securities maturing within six months and reverse repurchase agreements collateralized by the U.S. Treasury securities. Chainlink PoR empowers Matrixdock stakeholders to monitor reserves, ensuring that its tokenized T-Bills offering is sufficiently backed by the U.S. Treasury securities.
Cynthia Wu, Chief Operating Officer, Matrixport, shared, “We are thrilled to work alongside Chainlink for this market leading real world asset tokenization PoR. Real world asset tokenization is expected to become a major theme for the digital assets ecosystem in the coming years, adding tens of trillions of dollars to the market. Real world asset tokenization will greatly enrich the scale and variety of assets available on-chain as our industry matures. Our collaboration with Chainlink resolves transparency challenges with validation of off-chain assets with its on-chain tokenized representation.”
Chainlink PoR provides on-chain visibility, allowing any user to independently verify asset collateralization. By tapping into Chainlink’s automated on-chain verification and secure mint function, Matrixdock is also able to increase speed-to-market for tokenization projects and enhance tokenized asset security.
Mark Scrine, Business Lead for Proof of Reserve at Chainlink Labs, shared, “We’re excited by Matrixdock’s novel integration of Proof of Reserve as a key driver of technological innovation. Proof of Reserve provides autonomous and reliable asset monitoring and relies on Chainlink’s battle tested infrastructure. We look forward to continuing to explore potential use cases with Matrixport and help our industry develop in a secure and efficient manner.”
With the evolving macroeconomic environment, real-world asset tokenization has risen as one of the innovative topics at the intersection of traditional and digital assets. According to a recent Bank of America Global Research report, over the next decade, asset tokenization may reach over $16 trillion, transforming financial infrastructure and markets. Since its launch in February 2023, STBT’s total supply has reached over $99 million as of 26 July 2023, with 7-day average APY of ~4.7% .
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