Sibos 2026: Chainlink Labs' Sergey Nazarov on the convergence of TradFi and DeFi

Quick Summary

The digital asset landscape is shifting from retail focused cryptocurrencies and NFTs toward institutional grade real-world assets. Sergey Nazarov of Chainlink Labs explains at Sibos 2026 how the industry is preparing for a massive growth in tokenised equity, supported by key market infrastructures like the DTCC and new interoperability standards.

Why is tokenised equity poised for significant growth?

According to Sergey Nazarov, tokenised equity has not yet seen the adoption it needs, but the involvement of the DTCC is expected to change this. By launching tokenised equity, the DTCC provides a reliable and de-risked form of equity on-chain. Unlike previous attempts at tokenised funds, which lacked utility and venues for collateral, this new wave of tokenised equity offers tangible benefits:

• Utility through securities lending: Providing better yield and 24/7, 365-day movement of equity.
• Institutional grade RWAs: Moving the industry focus from retail assets to institutional real-world assets (RWAs).
• Data coordination: Using Chainlink to enable data to move across chains and coordinate with the DTCC app chain.

How does CCIP 2.0 support institutional requirements?

The upgraded version of the Cross-Chain Interoperability Protocol, CCIP 2.0, is specifically designed for institutional adoption. It addresses the complex requirements of large financial organisations, including compliance, accounting, legal, and regulatory needs. Sergey Nazarov notes that institutions require specific speed, security, and auditing standards that are now fulfilled by this protocol. It is currently being used in work with the DTCC for collateral management, proving that moving value across different chains is both possible and useful for liquidity that is spread across multiple environments.

What is the role of the Chainlink Runtime Environment and Fulcrum?

To combat market fragmentation, Chainlink Labs has introduced the Chainlink Runtime Environment (CRE) and Fulcrum. The CRE serves as an interface for banks to connect into systems like the SWIFT Ledger, which is primarily focused on the settlement of payments. Meanwhile, Fulcrum acts as a business-side interface that allows agent lenders, prime brokers, and hedge funds to interact with various collateral venues and loan agreements in one place. This simplifies the complexity of repo transactions and securities lending, facilitating the convergence of traditional finance (TradFi) and decentralised finance (DeFi).

What does the future of digital asset interaction look like?

Sergey Nazarov observes that major financial market infrastructures, including TCH, SWIFT, and DTCC, are all moving toward having their own chains. The next stage of evolution involves the interaction between vertically focused use cases, such as tokenised cash and tokenised equity. An example of this is the DTCC collateral management flow, where tokenised cash is lent out against tokenised equity, such as Microsoft shares, used as collateral across different chains. Once these assets reach a certain threshold and begin to interact seamlessly, the value of tokenised everything will become unstoppable.

FF NEWS TAKE:

The conversation at Sibos 2026 highlights a critical turning point where tokenisation moves from theoretical pilots to production-grade infrastructure. By focusing on the plumbing of the financial system, specifically interoperability and the Chainlink Runtime Environment, Chainlink Labs is positioning itself as the essential bridge between siloed institutional chains. The shift toward using tokenised equity as collateral for tokenised cash loans suggests that the industry is finally moving past the act of tokenisation itself and toward creating a functional, interconnected digital economy.