- Teaching people how to use stablecoins in DeFi applications is what Chainlink and Circle do.
Today, Oracle network Chainlink announced that it will be collaborating with Circle to improve stablecoins’ usefulness within the decentralized finance (DeFi) ecosystem.
Along with facilitating safe cross-chain transfers, the agreement signifies Chainlink’s dedication to supporting USD Coin (USDC) on chains made possible by its Cross-Chain Interoperability Protocol (CCIP).
According to Sandra Persing, vice president of product, development, and ecosystem marketing at Circle, Chainlink’s integration of Circle’s stablecoin developer platform would enable entrepreneurs creating financial services that are native to the Internet.
Builders already have a plethora of opportunities, and we are excited to keep working with Chainlink to expand the DeFi ecosystem’s potential.
The DeFi market’s liquidity has been greatly increased by Chainlink’s pricing oracles, which have facilitated over $1.3 trillion in USDC transactions over six different blockchains since the company’s founding.
Along with integrating Circle’s development platform with Chainlink’s range of services, including its CCIP, Data Feeds, and Proof of Reserve, this partnership also intends to give developers access to training materials on how to use USDC and Euro Coin (EURC) to design robust applications.
According to Akersh Srivastava, Head of Developer Relations at Chainlink Labs, “Developers need strong tools and secure infrastructure to leverage external data, proof of reserves, and interoperability” in light of financial institutions’ increased interest in tokenized assets. We are thrilled to collaborate with Circle to increase the usability of USDC and EURC through Chainlink services, which are essential for the full lifetime of tokenized assets.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
