Chainlink’s Oracle network was recently integrated into crypto exchange Coinbase’s Project Diamond, a crypto asset trading platform for institutions. To boost optimism, the partnership aims to improve the management of tokenized assets and facilitate exchanges between public and private blockchains. On the other hand, Binance, the world’s largest cryptocurrency exchange by daily trading volume, announced a partnership with stablecoin giant Circle.
Chainlink integration to Coinbase platform
In a recent press release, Coinbase stated that it will incorporate Chainlink’s CCIP into Project Diamond. The integration aims to increase compatibility between different chains regarding tokenized assets. With CCIP, Coinbase will be able to bridge assets between public and private blockchain. The partnership will therefore make it possible for tokenized assets to be available on many blockchain networks. Operating under the regulatory framework of the Abu Dhabi Global Market (ADGM), Project Diamond is designed to serve institutional investors and asset managers. Through this integration, institutions have access to secure and compliant solutions for their financial transactions.
In addition, oracle network’s robust data and interoperability infrastructure will meet the growing demand for secure on-chain data. This includes market prices, reference data and key compliance information such as anti-money laundering (AML) and know-your-customer (KYC) details. Marcel Kasumovich, Deputy Chief Investment Officer at Coinbase Asset Management, commented:
By natively integrating the Chainlink standard into the Project Diamond platform, powered by Coinbase’s technology stack on Base, we are paving the way for widespread institutional adoption of crypto assets.
LINK price soars
The adoption of the oracle network CCIP in Project Diamond is an important step to ensure that crypto assets are not limited to a single blockchain. This protocol enables the transfer and communication of assets across different networks. Recent rumors about Chainlink’s possible collaboration with BlackRock have boosted the LINK token price. As institutional investors begin to experiment with the integration of blockchain with traditional finance, expectations for growth have increased. This has boosted the LINK price as investors have increased their faith in the project’s future. It’s also noteworthy that the organization’s native token LINK is trading at $22.35, up over 60% in the past month.
Binance partners with Circle, the company behind USDC
Binance announced a critical partnership at an event in Abu Dhabi. The giant cryptocurrency exchange has partnered with Circle, the company behind USDC, the stablecoin pegged to the US dollar. The goal of the partnership is to accelerate the adoption of USDC. In this way, the exchange will make the payment transactions of its 240 million users even more accessible with the integration of USDC.
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