BTguru, a virtual and crypto asset provider in Türkiye, has partnered with Chainlink to accelerate the adoption of tokenized securities by institutions.

The partnership will benefit from Chainlink (connection) for protocol interoperability, data feeds, and proof-of-reserve technology, BTguru said in a report advertisement.

As part of the integration, BTguru will integrate Chainlink's cross-chain interoperability protocol and other technical infrastructure into its digital asset solutions, working alongside Turkish regulated financial institutions.

The integration aims to address the key challenges that institutions face when entering the tokenized asset market. BTguru plans to roll out this solution in the coming months, providing users with enhanced security, data connectivity, reliability, interoperability and asset utility.

“The Chainlink standard will help BTguru provide financial institutions with the tools they need to unlock the full potential of token assets while ensuring compliance and security at every step,” Can Bukolmez, managing partner at BTguru, said in a statement.

This collaboration will provide banks and other institutions with secure access to important indicators such as price data, proof of reserves, net asset value and identity information. Chainlink's oracle network provides cross-chain synchronization of token asset data, enabling off-chain communication and cross-chain interoperability.

David Fox, Head of Business Development EMEA at Chainlink Labs, said the partnership will open up new opportunities for BTguru in the tokenized asset sector.

“Chainlink will enable BTguru to not only meet stringent compliance and security requirements for digital assets at an institutional level, but also foster innovation and trust in the growing tokenized asset economy,” Fox added.

Cryptocurrency platforms that have recently leveraged Chainlink's oracle network include Aptos Home Network and Ripple, the latter for its stablecoin RLUSD.

In July 2024, Tether, the USDT issuer, announced this Collaborated with BTguru To explore RWA adoption for Turkey-based banks.