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Chainlink and Apex Group said they have completed a pilot project with Bermuda’s financial regulator, the Bermuda Monetary Authority, to test how blockchain infrastructure can help enforce stablecoin rules directly on the chain.
Unveiled during Chainlink’s SmartConthe testnet pilot, carried out through the authority’s Innovation Hub, brings together a group of blockchain tools designed to give regulators continuous visibility into the support and circulation of stablecoins.
The system uses Chainlink’s Proof of Reserve to publish reserve data on the chain and Secure Mint to limit token issuance beyond what is supported.
Apex Group, which serves $3.5 trillion in assets, according to a press release shared with CoinDesk, provided data on custody and reserves. Chainlink’s Automated Compliance Engine (ACE) integrated Bermuda’s specific political requirements into stablecoin operations, while its Cross-Chain Token standard supported the move to blockchains.
Hacken, a blockchain security and compliance company, has added real-time monitoring for compliance risks, including flagged wallet activity or unexpected on-chain behaviors.
The system also links verified issuers to coined wallets through Bluprynt’s identity layer, helping to link token issuance to real-world entities. Bluprynt is a compliance infrastructure developer.
The pilot simulated how oversight could work if compliance checks were enforced automatically in the chain rather than through reporting after the fact.
The project comes alongside Chainlink’s broader push to support institutional adoption of tokenized assets. I know Chainlink Runtime Environment (CRE)announced yesterday, it is already being used by banks such as JPMorgan and UBS to build cross-chain applications.
