Chainlink Teams Up With Westpac & Imperium to Revolutionize Australia’s Tokenized Finance Market
Chainlink just pulled Australia's legacy finance system into the DeFi age—and banks are actually playing along.
Westpac, one of Australia's 'Big Four' banks, is diving headfirst into tokenization alongside crypto infrastructure giant Imperium. The trio aims to bridge traditional finance with blockchain-powered assets.
Why it matters: Tokenization could unlock trillions in illiquid assets—if regulators don't strangle it in its crib. With Westpac onboard, this might be the rare case where institutional adoption outpaces bureaucratic sabotage.
The partnership will leverage Chainlink's oracle network to connect real-world financial data with blockchain smart contracts. Translation: Your mortgage could soon live on-chain (and still cost you an arm and a leg).
Cynic's corner: Nothing warms a banker's heart like cutting out middlemen—unless that middleman is their 27% mortgage profit margin.
Project Acacia targets $12B+ in annual cost savings
According to the Reserve Bank of Australia, tokenization could help asset issuers in local markets save over AUD $12 billion per year. Westpac emphasized that this initiative is a critical milestone in exploring how digital money can transform wholesale financial markets. The project aims to deliver innovations in settlement infrastructure—namely by offering risk-free, on-chain settlement mechanisms under a sound regulatory framework.
READ MORE:
Accelerating institutional adoption of blockchain technology
By combining offchain payment systems with tokenized assets for secure DvP transactions, Chainlink, Westpac, and Imperium Markets are unlocking new use cases and scaling the institutional adoption of blockchain-based finance in Australia.
The integration of CRE with Project Acacia represents a significant step forward in mainstreaming tokenized financial products, especially for institutional participants looking for reliable, compliant on-chain infrastructure.
