Cryptocurrency and technology platform for external data interaction Chainlink announced its collaboration with Rapid Addition, a provider of financial information exchange (FIX) connection solutions, to develop a FIX native adapter tailored for institutional digital asset transactions.
The adapter will be supported by the Chainlink cross-chain interoperability protocol (CCIP), a protocol in which applications span token transfers, gaming, and decentralized finance (DeFi).
Chainlink’s new collaboration is set to empower banks and financial institutions to communicate and engage with a variety of tokenized assets. The organization perceives this as an “unexplored market opportunity” with potential applications spanning renewable energy products, carbon credits, and real-world assets (RWAs) such as real estate, infrastructure, and collectibles.
FIX serves as the foundation for financial transaction communication. Its message formats adhere to global regulations governing market data and pre- and post-trade transactions. When integrated with Chainlink to facilitate message flows onto and across blockchains, FIX can expedite interoperability with traditional systems and provide a compliant schema for communicating financial market transactions over blockchain networks.
Furthermore, the integration of Chainlink CCIP’s blockchain abstraction APIs and Rapid Addition’s service into an institutional blockchain adapter facilitates the seamless and secure connection of FIX’s industry protocols with smart contracts. This integration opens up new avenues for digital asset trading.
Founded in 2003, Rapid Addition operates as a software solutions provider catering to the global electronic marketplace. Its offerings encompass low-latency FIX and FAST engines.
Chainlink’s CCIP Enters General Availability Phase, Streamlines Token Transfers
Chainlink enables connections between traditional ventures and blockchain platforms. It acts as middleware linking blockchain-based smart contracts with external data sources.
Chainlink’s CCIP transitioned into the General Availability (GA) phase last month, granting developers the ability to utilize it for token transfers throughout blockchains without requiring permission. Additionally, it allows the transferring of arbitrary messages to smart contracts on another integrated blockchain, as well as the simultaneous transfer of data and value via CCIP’s support for programmable token transfers.
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