BIS/MAS/JPM Kinexys/Standard Chartered showing up around the same compliance primitive puts ACE closer to market plumbing than a Chainlink product announcement. If CCID/vLEI attestations get reused across ERC-3643 issuers, the KYC moat moves from each token contract to the credential graph, letting tokenized funds route across venues without re-onboarding every wallet. The risk is policy-manager capture: upgradeable compliance rules are great for regulators and banks, but DeFi liquidity will price in who can revoke, freeze, or reclassify addresses.

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