Chainlink, a decentralized oracle network, announced the launch of its Automated Compliance Engine (ACE), aimed at bridging compliance gaps between traditional and decentralized systems.
Overview of ACE
ACE introduces a modular and standardized approach to managing regulatory compliance across both public and private blockchains. The initiative is currently in early access for select institutions.
Goals and Collaboration of Chainlink
Chainlink aims to unlock over $100 trillion in institutional investor capital by enabling compliant digital asset deployment. ACE was built in collaboration with market participants such as Apex Group, the Global Legal Entity Identifier Foundation, and the ERC-3643 Association.
Expert Opinions
Chainlink co-founder Sergey Nazarov stated, "If you make a digital asset and use the Chainlink standard for compliance in that digital asset, it will be better, cheaper, and faster than its traditional alternative."
With the launch of ACE, Chainlink is setting ambitious goals to enhance the compliance process in financial systems, which may fundamentally change the approach to regulating digital assets.
