Dinari Integrates Chainlink CCIP To Power Cross-Chain Transfers of Yield-Bearing Stablecoin

We’re excited to announce that Dinari has integrated Chainlink CCIP—the industry standard for secure cross-chain interoperability—across the Arbitrum One and Ethereum mainnets. We’re leveraging CCIP’s Simplified Token Transfer capabilities to facilitate cross-chain transfers of USD+, our fully backed yield-bearing stablecoin, enabling USD+ to power payments and provide collateral across the onchain economy.

We selected CCIP as our preferred interoperability solution because Chainlink has the most proven track record of maintaining the highest standard of security and reliability in the Web3 industry. Furthermore, CCIP is backed by the Risk Management Network—a separate, independent network that continually monitors and verifies cross-chain operations for suspicious activity. This additional layer of security is particularly important given historical industry exploits and the billions in user funds lost due to insecure and unreliable cross-chain infrastructure.

Dinari issues onchain tokens fully backed by real-world assets. Our USD+ stablecoin and its yield-generating counterpart stUSD+ offer a solid foundation of US Dollar-pegged stability (with guaranteed 1:1 redemptions), coupled with the potential for growth based on fixed income assets. USD+ and stUSD+ are available now here: usd.dinari.com. In addition to USD+, Dinari issues dShares, 1:1 backed tokenized stocks, ETFs, and more. Access nearly 40 tokenized assets at sbt.dinari.com. Dinari also offers B2B API and smart contract-based solutions that enable businesses to incorporate trading into their platforms. 

In order to help secure our cross-chain token bridging and interoperability in the most optimal way possible, we needed access to a highly secure and reliable interoperability solution. After reviewing various solutions, we integrated Chainlink CCIP because it provides a multitude of important benefits and features, such as:

• Time-tested security and reliability—CCIP’s consensus and interoperability layer is powered by Chainlink decentralized oracle networks, which have already secured tens of billions of dollars for smart contracts and enabled over $10 trillion in onchain transaction value. CCIP also features additional layers of protection and reliability via the Risk Management Network and Smart Execution.

• Secure Token Transfers—CCIP features a plug-and-play solution consisting of audited token pool contracts that handle the complexity of burning and minting or locking and minting tokens across chains. CCIP Token Transfers also have additional security features like Rate Limits, and enable ecosystem partners to easily build new capabilities around a supported token via a single CCIP interface.

• Programmable Token Transfers—CCIP messages are programmable, meaning token transfers and arbitrary data transfers can be one atomic transaction. This enables instructions to be passed in the data payload regarding what to do with the tokens once they arrive at the destination chain. 

• Future-proof—CCIP is built to support continuous updates, such as the integration of new blockchains, the introduction of advanced functionalities, and the addition of other defense-in-depth approaches to security. Thus,  integrating CCIP eliminates future switching costs should new cross-chain functionalities be required. 

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Dinari plans to expand USD+ cross-chain token transfers and interoperability to additional chains with CCIP.

“Integrating Chainlink Cross-Chain Interoperability Protocol is an important moment for Dinari, marking a significant step towards seamless and secure cross-chain functionality for USD+. Chainlink CCIP stands out not only for its security and reliability but also for its forward-thinking and defense-in-depth features that align with our vision for the future of decentralized finance. By powering cross-chain transfers of USD+, our yield-bearing stablecoin (passively accruing more than 4.8% APY as of 1 April 2024), CCIP helps USD+ become a cornerstone asset in the evolving cross-chain landscape. We're thrilled to embark on this journey using Chainlink and push the boundaries of what's possible in DeFi." – Gabriel Otte, CEO

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About Dinari

Founded in 2021, Dinari builds compliant, accessible, transparent, and secure infrastructure to connect the traditional and decentralized finance ecosystems. Dinari’s current product offering includes 1:1 backed tokenized stocks with dividend payments (dShares), a yield-bearing stablecoin protocol (USD+), and a suite of developer and enterprise products, including smart contracts, API, and SDK solutions. Dinari is a US-based company, an SEC registered transfer agent, and holds a reserve in a treasury vault, which is audited regularly by an external accounting firm. Dinari has raised $10 million in seed funding from top investors, including 500 Global, SIG, Alchemy, and more. 30+ dShares representing various US stocks and ETFs are currently available on Arbitrum One, including Coinbase, Tesla, Apple, Google, SPY, USFR, the Bitcoin ETFs, Riot Platforms, and more.

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About Chainlink

Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $10 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors. 

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.

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