Securities exchange giant ICE, parent company of the NYSE, enhances financial data services for foreign exchange and metals by incorporating blockchain technology through Chainlink.
Chainlink, a blockchain network known for its oracle services, has announced a significant integration with ICE (Intercontinental Exchange). This collaboration aims to provide high-quality FX (foreign exchange) and precious metals rates on-chain, making these reliable and institutional-grade market data accessible to over 2,000 web3 applications.
The integration involves Chainlink using ICE’s Consolidated Feed to deliver FX and precious metals rates securely to various decentralized applications, including DeFi protocols, banks, and asset managers. The data provided is tamper-resistant and low-latency, meeting the standards used in traditional capital markets.
This partnership is poised to support the growth of tokenized real-world assets (RWAs) and unlock new institutional-grade products in the blockchain ecosystem. It is expected to supply accurate pricing for FX and precious metals, contributing to a projected $30.1 trillion tokenization market.
Beyond FX and precious metals, Chainlink's RWA feed offers prices for other real-world assets. These include tokenized US-listed stocks, leveraging prices from multiple providers to create on-chain references. Tokenized gold, which has gained traction as a digital asset, is also included. Additionally, various stablecoins in multiple currencies are supported, catering to decentralized finance applications requiring high-quality FX rate feeds.
Chainlink's RWA feed also provides insights into various US-listed stocks that have been tokenized. Many of these stocks, including tokenized ones listed in the US, are now included in Chainlink's RWA feed. This integration can be beneficial for on-chain derivatives, as the metals and FX data provided by Chainlink can be used for various purposes.
The proliferation of stablecoins necessitates high-quality FX feeds, and this integration addresses this need. By making real-world asset data accessible on-chain, Chainlink is fostering a bridge between traditional finance and decentralized ecosystems, extending tokenization beyond cryptocurrencies to include multiple real-world asset classes like stocks, gold, and stablecoins.
In essence, Chainlink's integration with ICE enhances on-chain market reliability and supports the growth of tokenized real-world assets, providing a valuable resource for decentralized applications and institutions alike.
- Chainlink's RWA feed offers prices for various real-world assets, such as tokenized US-listed stocks, tokenized gold, and stablecoins in multiple currencies, catering to decentralized finance applications.
- This partnership between Chainlink and ICE aims to support the growth of tokenized real-world assets, supplying accurate pricing for foreign exchange and precious metals, contributing to a projected $30.1 trillion tokenization market.
- Beyond FX and precious metals, the integration can be beneficial for on-chain derivatives, as the metals and FX data provided by Chainlink can be used for various purposes.
- The integration between Chainlink and ICE makes institutional-grade market data accessible to over 2,000 web3 applications, meeting the standards used in traditional capital markets.
- The proliferation of stablecoins necessitates high-quality FX feeds, and this integration addresses this need by providing secure, low-latency FX and precious metals rates from ICE's Consolidated Feed.
