On October 5, Chainlink (LINK) announced that the Ren (REN) protocol will use its proof-of-reserve solution to improve the transparency and auditability of cross-chain assets.

• RenVM will use the Proof-of-Reserve to audit its cross-chain assets; initially supported assets will be renBTC, renBCH and renZEC
• The integration is currently live on the testnet and will soon launch on the mainnet
• By using the solution, REN boosts its security by ensuring that every cross-chain asset is backed by a corresponding asset on the native chain
• DeFi dapps can also automate checks on the current collateralization of Ren assets
• There is currently 25,457 renBTC on Ethereum, according to Dune Analytics
• Institutional platform BitGo also announced on October 2 that it would use the Proof-of-Reserve mechanism to audit $1 billion in wrapped Bitcoin to ensure reserves