Leading blockchain platform, Chainlink has collaborated with Intercontinental Exchange (ICE) a US-based Fortune 500 company. The firm confirmed the development on Monday via an official statement on its page on X.
More so, the initiative will focus on incorporating foreign exchange and precious metals data on-chain. The collaboration with ICE underlines the increasing effort of Chainlink in bringing real-world assets to the blockchain space.
The latest move is a significant step forward in introducing traditional market infrastructure to the blockchain space. Chainlink will tap into the infrastructure of ICE Consolidated Feed that aggregates market data from more than 300 global exchanges and marketplaces to gather metrics that will power its Data Streams.
By integrating the pricing data, Chainlink will improve the accuracy and reliability of the prices adopted by platforms offering RWA on-chain. The blockchain oracle firm is confident that the innovation will boost the development of institutional-grade applications powered by blockchain and needs low-latency and immutable market data.
The synergy with ICE surfaced shortly after Chainlink launched Data Streams for US equities and ETFs. According to a Binbits report, the Data Streams offer high-throughput market data to support tokenized assets.
Side note and executive insight
The project went on to reveal how ICE feeds support more than 2,000 decentralized applications and financial institutions. Offering such vast support, the feeds ensure that partners are well supplied with needed market insights to navigate the tokenized markets.
ICE has made a long-standing reputation as an operator of major global financial exchanges and data services. Notably, the company owns the New York Stock Exchange. At its core, the company builds and manages digital networks that bring buyers and sellers together for major asset classes.
It is worth mentioning that top executives from the two companies reacted to the partnership. The vice president of global data delivery platforms of ICE, Maurisa Baumann described the initiative as a key step in advancing the global blockchain sector.
The executive said the project will help on-chain markets enjoy the same level of transparency as the traditional capital markets. Similarly, the president of capital markets of Chainlink Labs, Fernando Vazquez added that the synergy is pushing towards a unified and globally accessible on-chain financial structure.
Vazquez narrated how the partnership positioned the blockchain space to support the tokenization of trillions of dollars in assets. He concluded that joining forces with ICE highlights Chainlink’s focus on bringing institutional-grade criteria to DeFi.
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