Decentralized computing platform Chainlink unveiled a new partnership with Circle, a financial technology firm known for issuing stablecoins like USDC and EURC. This collaboration aims to broaden the utility of stablecoins for enterprise institutions.
The partnership entails both companies collaborating to provide developer education on Circle’s Programmable Wallets and Smart Contract Platform, as well as Chainlink’s cross-chain interoperability protocol (CCIP), Data Feeds, and Proof of Reserve. This aims to assist developers in utilizing USDC and EURC to develop resilient applications for the future.
Circle offers a platform that enables businesses worldwide to utilize digital currencies and public blockchains in diverse sectors. It is the creator of USDC, a stablecoin backed by the United States dollar, and EURC, a stablecoin backed by the euro, both recognized as highly liquid and interoperable money protocols.
Leveraging its open and programmable platform along with application programming interfaces (APIs), Circle streamlines organizational operations. This allows businesses to seamlessly conduct international payments, develop globally accessible Web3 applications, and operate internal treasury functions.
Chainlink & @circle have partnered to expand the utility of #TokenizedAssets.See how the Chainlink platform’s highly secure industry-standard services & Circle’s tooling can support enterprises & DeFi developers leveraging USDC, EURC, & more.
— Chainlink (@chainlink) May 30, 2024
Chainlink Empowers Over $1.3 Trillion In USDC Transaction Volume And Expands Cross-Chain Transfer Support
Chainlink operates as a cryptocurrency with the goal of incentivizing a worldwide network of computers to provide reliable, real-world data to smart contracts operating on blockchain platforms. Through its price oracles, Chainlink has facilitated over $1.3 trillion in USDC transaction volume across six blockchains within a span of two and a half years, empowering the decentralized finance (DeFi) markets.
Earlier this year, Chainlink announced comprehensive backing of USDC via its Chainlink CCIP, facilitating secure cross-chain transfers and furthering the incorporation of DeFi into CCTP-supported blockchains.
Recently, Chainlink has partnered with Rapid Addition, a provider of financial information exchange solutions, to create a FIX native adapter customized for institutional digital asset transactions. This adapter will be integrated with the Chainlink CCIP, a protocol in which applications span token transfers, gaming, and DeFi.
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