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

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

Oracle announced on Sept. 23 that it is adding features including customized wallets, smart-contract controls and artificial intelligence-based oversight to its Digital Assets Data Nexus.

Digital Assets Data Nexus is Oracle's enterprise platform designed to help banks connect legacy account and payment systems with blockchain networks. The platform lets banks process fiat currencies and digital assets within a single operating framework instead of splitting them across separate systems.

With the expansion, banks can link payment records and customer account information to Web3 wallets and blockchain networks and coordinate on-chain and off-chain transactions through one operating framework. Payment and account status information, along with transaction records, can then be sent back to existing payment systems.

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

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