Chainlink, Apex Group Test Onchain Stablecoin Compliance With Bermuda Regulator

Chainlink and Apex Group conducted a pilot with Bermuda’s financial regulator to explore how blockchain technology can enforce stablecoin regulations on chain. Utilizing Chainlink's Proof of Reserve and Automated Compliance Engine, the system offers regulators real-time visibility into a stablecoin's backing and circulation, while automating compliance checks. The pilot included tools for continuous monitoring, ensuring compliance risks are addressed in real-time. Apex Group contributed data on custody and reserves, while Hacken implemented security measures. The initiative supports Chainlink's goal of advancing institutional adoption of tokenized assets and follows the Chainlink Runtime Environment already being used by banks like JPMorgan and UBS.

Source 🔗