Stablecoin platform Plasma has joined the Chainlink Scale program on Friday. Chainlink, an industrial-standard oracle platform, confirmed the development through a post on its official page on X.
As per the announcement, Plasma also adopted its new partner as its official oracle provider through the Chainlink data and interoperability standards. By that, the synergy will open access to verifiable, low-latency market data and highly secure cross-chain connectivity.
Furthermore, it will as well enable developers within the Plasma ecosystem to design advanced use cases for stablecoins. The innovation focuses on establishing a robust, data-centric on-chain payment ecosystem.
With the integration of Chainlink Data Streams and Data Feeds, Plasma provides developers with fast, reliable, and immutable price data that powers its entire stablecoin ecosystem. In the statement, the project went on to reveal how the Chainlink Data Feeds have already secured more than $100 billion in total value across DeFi.
As indicated, the protocol at its core delivers high-integrity reference prices for stablecoin trading pairs and collateralized applications that support lending markets, borrowing protocols, derivatives, and stablecoin-backed liquidity pools. Also, Plasma will enjoy access to Chainlink CCIP, unlocking a new pathway to the global market.
Likewise, Chainlink emerged as an ideal partner for Plasma’s stablecoin project due to its sub-second market data that perfectly supports real-time on-chain payment and high-traffic settlement. Combining these offerings, Chainlink comes with a secure oracle infrastructure that empowers Plasma developers to design secure and composable stablecoin solutions. As a result of this new opportunity, the new partners are pushing the drive for global adoption of stablecoins.
Side notes from top executives
Paul Faecks, Founder and CEO of Plasma commented on the partnership underlining the goal of the company to establish a vast stablecoin ecosystem. Faecks mentioned how Chainlink with the integration, strengthens Plasma’s stablecoin rail and fastrack mainstream adoption.
Similarly, Johann Eid, Chief Business Officer at Chainlink Labs said the integration with Plasma will enable the stablecoin project to actualize its goal and deliver the next generation of stablecoin and on-chain payment applications. The executive said the synergy will set a new trend among layer 1 networks.
Meanwhile, during the integration, Aave, a renowned liquidity protocol launched on Plasma, which underlines how DeFi platforms are swiftly embracing the stablecoin project. Aave launched on Plasma thanks to Chainlink CCIP and Data Feeds.
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