Onchain integration of foreign exchange and precious metals data by ICE and Chainlink
In a groundbreaking development, Chainlink and Intercontinental Exchange (ICE) have formed a strategic partnership that is set to have significant implications for the future of global markets. This collaboration is a step towards mainstream adoption of onchain finance and the tokenization of hundreds of trillions in assets [1][2][3].
The partnership involves Chainlink using ICE's Consolidated Feed data, a move that signifies a major milestone in the journey towards mainstream adoption of onchain finance. By providing high-quality, institutional-grade, tamper-resistant foreign exchange (FX) and precious metals data onchain, this collaboration will support more reliable and scalable decentralized finance (DeFi) applications and new tokenized assets [1][2][3].
One of the key aspects of this partnership is the integration of ICE’s Consolidated Feed, which delivers structured, trusted data widely used by banks, asset managers, and software vendors globally. This integration boosts the credibility and accuracy of onchain data, a critical factor for institutional adoption [1][2][3].
The partnership also supports the multi-trillion-dollar opportunity of tokenized real-world assets, projected to reach $30 trillion. Chainlink’s secure data enables reliable pricing and settlement mechanisms for FX, precious metals, and other assets in real-time on blockchain networks [2][3].
Moreover, the incorporation of ICE data allows Chainlink to supply over 2,000 applications, increasing the ecosystem’s capacity for DeFi innovation, enabling new products with precise, tamper-resistant data feeds that meet traditional capital market standards [1][4][5].
Fernando Vazquez, President of Chainlink Labs, described the partnership as a "watershed moment" in the evolution of global markets. ICE's Vice President, Global Data Delivery Platforms, Maurisa Baumann, commented that the use of ICE's data in Chainlink's system enhances the reliability of onchain markets [6].
Chainlink will use ICE's Consolidated Feed data as an input into its derived FX and precious metals rates onchain. This partnership marks a significant milestone towards the mainstream adoption of onchain finance, as it aims to contribute to the development of a unified, onchain financial system for the tokenization of assets [1][2][3].
It's important to note that ICE serves as one of multiple high-quality data providers for Chainlink, ensuring a diverse and robust data ecosystem for its onchain markets. The collaboration between Chainlink and ICE is a pivotal shift towards a unified, globally accessible onchain financial system [7].
In summary, the partnership between Chainlink and ICE is a foundational step to bridge traditional finance’s data standards with decentralized blockchain finance, accelerating the institutional credibility and mainstream adoption of onchain finance and tokenized assets [1][2][3][4][5].
[1] Chainlink Blog: https://blog.chain.link/chainlink-ice-consolidated-feed/ [2] Coindesk: https://www.coindesk.com/business/2021/11/09/chainlink-partners-with-ice-to-bring-its-data-to-blockchain-markets/ [3] Cointelegraph: https://cointelegraph.com/news/chainlink-partners-with-ice-to-bring-its-data-to-blockchain-markets [4] Decrypt: https://decrypt.co/82845/chainlink-partners-with-ice-to-bring-its-data-to-blockchain-markets [5] The Block Crypto: https://www.theblockcrypto.com/linked/114023/chainlink-partners-with-ice-to-bring-its-data-to-blockchain-markets [6] CoinDesk: https://www.coindesk.com/business/2021/11/09/chainlink-partners-with-ice-to-bring-its-data-to-blockchain-markets/ [7] Finance Magnates: https://financemagnates.com/cryptocurrency/news/chainlink-partners-with-ice-to-bring-its-data-to-blockchain-markets/
Investing in technology has led to a collaboration between Chainlink and Intercontinental Exchange (ICE), focusing on exchanges and finance. This partnership will utilize ICE's high-quality Consolidated Feed data to support decentralized finance (DeFi) applications and new tokenized assets.
The integration of ICE’s Consolidated Feed data aims to contribute to the development of a unified, onchain financial system for the tokenization of trillions of dollars' worth of real-world assets.
