Chainlink, a well-known platform that links the existing mechanism to any private or public blockchain, has announced another partnership. As per the platform, it has collaborated with Circle. Circle is a worldwide financial technology platform enabling businesses to leverage public blockchains and digital currencies for payments. The company disclosed the news of this collaboration on its official account on X.
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 Partners with Circle to Increase Developer Engagement and Widen Enterprise
Circle published an exclusive blog post to describe the latest endeavor. It mentioned that the partnership with Circle (the platform responsible for issuing EURC and USDC stablecoins) will expand its enterprise. Platform added that it focuses on increasing stablecoin utility to facilitate enterprise entities. For this purpose, it will reportedly leverage the developer forum thereof and the services of Chainlink.
Both platforms will work jointly cooperation to instruct developers concerning the Smart Contract Platform and Programmable Wallets of Circle. In addition to this, they will also use the market-leading services of Chainlink. They take into account Proof of Reserve, Data Feeds, and CCIP. With these, the companies will support developers who leverage the EURC and USDC stablecoins to develop future-proof applications.
The price oracles of Chainlink have enabled the transfer value of more than $1.3 trillion across six blockchains. The respective endeavor strengthens the markets in the decentralized finance realm. Formerly, Chainlink additionally announced complete support of the USDC stablecoin through Chainlink CCIP. It did this to permit for the comprehensively secure transactions across the chains.
The respective development would assist bring decentralized finance to chains that have support from CCTP. This integration will reportedly strengthen the innovators developing the financial services native to the Internet. Sandra Persing, Circle’s VP Product Developer made this statement while discussing the partnership.
It also pointed out that the developers can leverage numerous opportunities. The executive expressed the expectation to continue the collaboration to delve into the cutting-edge capabilities to facilitate the DeFi ecosystem. Akersh Srivastava, Chainlink Labs’ Head of Developer Relations, said that the increasing interest regarding tokenized assets demands several things.
The Partnership Enhances the Utility of EURC and USDC
As per him, it indicates that the developers require secure infrastructure and robust instruments to leverage outside data and interoperability. According to him, this partnership contributes to boosting the utility of EURC and USDC via the services of Chainlink for tokenized assets.