Oracle Expands Digital-Asset Data Service to Support CBDCs, Stablecoins

Oracle has expanded the capabilities of its digital-asset data service to help banks support tokenized deposits and stablecoin businesses.

Oracle announced on September 23 that it will add features including customized wallets, smart-contract controls and artificial intelligence-based oversight to Digital Assets Data Nexus.

Digital Assets Data Nexus is Oracle’s enterprise platform designed to help banks connect their existing account and payment systems with blockchain networks. It allows banks to process fiat currencies and digital assets within a single operating framework rather than separating them into different systems.

With the expanded features, banks can connect payment records and customer account information to Web3 wallets and blockchain networks, while coordinating on-chain and off-chain transactions in an integrated way. Payment and account status data, as well as transaction records, can then be sent back to existing payment systems.

The platform supports tokenized deposits, stablecoins and central bank digital currencies, or CBDCs, as well as digital bonds, funds and real-world assets, or RWAs. Oracle also strengthened regulatory-compliance and transaction-control functions to reflect the 24-hour nature of blockchain transactions.

Oracle said the expansion improves interoperability across different blockchains and applies a consistent internal-control framework to reduce fragmentation across operating systems. Mark Rakhmilevich, vice president of Oracle Data Platform technology, said Digital Assets Data Nexus helps minimize the need for banks to build a new operating framework for each asset or blockchain network.