ZKsync

Wrapping up an incredible week in Fintech! The week began with GFTN's Insight Forum on Monday and Tuesday, which just keeps growing in size, quality, and relevance. Kudos to the team for assembling such a powerful lineup of topics and speakers! Tuesday also saw Deutsche Bank Innovation Day, another fantastic event pushing boundaries in the financial space. Then, the well-documented Singapore FinTech Festival took the spotlight—featuring our TED Talk, countless insightful meetings with future partners and collaborators, and a rich agenda full of industry leaders sharing their expertise. And let's not forget the bustling evening events. Thank you to the Embassy of Italy in Singapore, StraitsX, Merkle Science, Amazon Web Services (AWS), Riverchain, Illuminate Financial, Mastercard, Stripe, SIX, AsiaNext, and Tenity . Each event was packed with meaningful interactions, awesome venues, and a mix of new faces and old friends. The special highlight was of course unveiling our Project DAMA, an ambitious initiative we’ve been developing to redefine fund management in a blockchain-driven world together with Deutsche Bank and Interop Labs, and with the support of Matter Labs. This project is set to be completed in the coming months, so stay tuned, in the meantime check out the official video we prepared for the occasion below! All in all, this year’s SFF was another resounding success, solidifying its role as the world’s top fintech festival. Looking forward to seeing everyone next year to celebrate our continued growth!

We're excited to announce the results of an industry-wide corporate actions initiative between Chainlink, Euroclear, Swift, and 6 major financial institutions. We successfully demonstrated how AI, oracles, and blockchains can solve a decades-long unstructured data challenge in finance. Read the full report, which covers the solution design, key outcomes, participant insights, and the next phase of the initiative: https://lnkd.in/gGtpyjEQ The Challenges With Corporate Actions Today Today’s inefficient corporate action processes cost regional investor, broker, and custodian businesses approximately $3-5 million each annually, with 75% of firms re-validating custodian and exchange data manually. Key challenges include: ? No standard method for announcing events ? Extensive manual data cleaning efforts ? Lack of standardized data ? Fragmented ecosystem ? No single source of truth The Unified Golden Record: A Novel Architecture Combining AI, Oracles, and Blockchains To address this challenge, we convened a consortium of major participants from across the industry, including financial and market infrastructures Euroclear and Swift, as well as major financial institutions UBS, Franklin Templeton, Wellington Management, CACEIS, Vontobel, and Sygnum Bank. This initiative leverages AI models, oracles, and blockchains to create unified golden records of corporate action data that are synchronized across multiple blockchains. The LLM models used by the Chainlink oracle network in this approach included LLMs by OpenAI (ChatGPT 4o), Google (Gemini 1.5), and Anthropic (Claude 3.5), but the design is agnostic to any LLM model. Three blockchain ecosystems were involved:?Hyperledger Besu, Avalanche, and ZKsync. This approach not only reduces uncertainty around using novel LLM models but also distributes data nearly instantaneously on shared infrastructure to provide an onchain unified golden record for asset managers, CSDs, and custodian service providers. Results: A Significant Architecture Milestone The initiative achieved a significant architecture milestone in the journey to improve the management and dissemination of corporate actions data. Key outcomes include: ? Established a novel data extraction and structuring process? ? Success in LLM consensus framework for financial data ? Near real-time data distribution The Path Forward With the next upcoming phase of the initiative, we aim to integrate established ISO standards, along with Swift messaging and connectivity, unified golden records interoperable with and consumable by existing mission-critical portfolio processing and management systems utilized by financial institutions. Our vision is to expand the scope of the unified golden record model by converting additional sources of unstructured data into structured data for financial assets, expanding the benefits of AI and Chainlink oracles to the wider financial industry.

Episode 101 of #TheMoneyMovement is now live! Hear Jeremy Allaire and Matter Labs' Nana Murugesan dive into the importance of technology, the future of programmable money, and the emergence of zero-knowledge proofs. ?? https://lnkd.in/g8EmWW8M

Messari's Q3 report highlights ZKsync rapidly emerging as the go-to solution for enterprises seeking secure, scalable blockchain infrastructure to drive the next wave of financial innovation. Key milestones include: ?? ZKsync’s unique role in Deutsche Bank's asset tokenization platform, showcasing the versatility of ZK Chains for TradFi ?? Tradable Financial to bring institutional finance onchain and tokenize over $500M in private credit, backed by Victory Park Capital, using ZK Stack’s customizability ?? Institutional success with Fidelity International, tokenizing $50M of MMFs on ZKsync, opening up a massive TAM across $6.9B in assets, in collaboration with Chainlink. ?? The Elastic Chain, which enables seamless scalability across ZKsync's interconnected ecosystem, has more than 10 ZK Chains in development, including Lens Protocol, built using ZK Stack. Read the full report here: https://lnkd.in/ey9JcZut