Chainlink and Apex Group Evaluate Onchain Stablecoin Compliance with Bermuda Regulatory Authority

Chainlink and Apex Group Pilot: Chainlink and Apex Group conducted a pilot project with Bermuda's financial regulator to test a blockchain system that automates compliance checks for stablecoins, providing real-time visibility into their backing and circulation.

Technological Features: The system utilizes Chainlink's Proof of Reserve and Automated Compliance Engine, integrating Bermuda-specific policy requirements and enabling continuous monitoring of compliance risks through real-time data.

Institutional Adoption: This initiative supports Chainlink's broader goal of promoting institutional adoption of tokenized assets, leveraging its Runtime Environment already in use by major banks like JPMorgan and UBS.

Compliance Infrastructure: The pilot also includes features from Bluprynt for identity verification and Hacken for compliance risk monitoring, simulating a future where compliance checks are enforced automatically on-chain.