State Street and Galaxy Digital Launch Onchain Cash Management Solution

**Solv Protocol has fully migrated to Chainlink CCIP** as its official cross-chain infrastructure, moving over $700M in tokenized BTC assets (SolvBTC & xSolvBTC) away from LayerZero. **Key Details:** - Cross-chain transfers now secured by 16 independent node operators per bridge lane - Migration follows extensive security review citing CCIP's "secure-by-default architecture" - Legacy LayerZero bridges being deprecated - CCIP recognized by White House as critical infrastructure for digital assets **Why the Switch?** Solv cited recent industry events and determined CCIP provides stronger security assurances through native risk controls and proactive monitoring. The move signals a broader trend of protocols prioritizing institutional-grade security standards for cross-chain operations. [Full announcement](https://insights.solv.finance/solv-protocol-migrates-from-layerzero-to-chainlink-ccip/)

**Tydro**, the largest lending protocol on Ink Chain, is migrating from its legacy oracle solution to **Chainlink Data Feeds**. This integration aims to enhance the protocol's data reliability and security infrastructure. The move follows a similar pattern of DeFi protocols upgrading to Chainlink's oracle services. **Key Points:** - Tydro is deprecating its previous oracle system - Migration to Chainlink Data Feeds now underway - Part of broader trend of DeFi protocols adopting Chainlink infrastructure This development comes shortly after KelpDAO's migration to Chainlink CCIP for cross-chain security of rsETH, indicating growing adoption of Chainlink's oracle and cross-chain solutions across the DeFi ecosystem.

State Street Investment Management and Galaxy have launched SWEEP, a tokenized liquidity fund that operates 24/7 on blockchain infrastructure. **Key Infrastructure Partners:** - State Street Investment Management serves as asset manager - Chainlink provides NAVLink for onchain NAV data and CCIP for cross-chain functionality - Galaxy handles tokenization technology and digital infrastructure - Anchorage acts as digital custodian for stablecoin investments The fund enables round-the-clock onchain cash management with subscriptions and redemptions available in PayPal's PYUSD stablecoin, creating streamlined onchain workflows for institutional investors.

The **Bermuda Monetary Authority** has completed an initiative demonstrating how Chainlink technology embeds regulatory requirements directly into digital asset infrastructure. **Key participants:** - Bermuda Monetary Authority - Apex Group - Bluprynt - Hacken **Chainlink capabilities utilized:** - **Compliance** via ACE + CCID - **Reserve data** via Proof of Reserve - **Cross-chain interoperability** via CCIP - **Workflow orchestration** via CRE The initiative shifts compliance from manual processes to real-time enforcement, potentially streamlining regulatory oversight in the digital asset sector. [Full announcement](https://www.prnewswire.com/news-releases/chainlink-apex-group-bluprynt--hacken-partner-with-the-bermuda-monetary-authority-completing-key-embedded-supervision-solution-to-accelerate-digital-asset-compliance-302764119.html)