Chainlink Taps ICE’s Market Data for Onchain Finance
In a groundbreaking development, blockchain oracle Chainlink has teamed up with Intercontinental Exchange (ICE), a Fortune 500 company behind the New York Stock Exchange. This partnership aims to bring real-time forex and precious metals data into decentralized finance (DeFi), closing the gap between traditional financial markets and blockchain-based solutions.
ICE’s Market Data Powers Chainlink’s Blockchain Infrastructure
Announced on August 11, the collaboration integrates ICE’s Consolidated Feed, which aggregates data from over 300 global exchanges, into Chainlink’s Data Streams network. This integration will supply institutional-grade forex and metals pricing to decentralized applications (dApps) and blockchain-based services, marking a major leap for the DeFi ecosystem.
Maurisa Baumann, Vice President of Global Data Delivery Platforms at ICE, highlighted the significance of the partnership, emphasizing how ICE’s data is trusted by financial institutions around the world. The data provided will enhance the reliability of decentralized markets, making them more attractive to institutional investors.
A Milestone for Onchain Finance and Tokenized Asset Markets
This partnership addresses one of DeFi’s most critical challenges: the need for accurate, institutional-grade pricing for real-world assets. The integration of ICE’s high-quality forex and precious metals data into Chainlink’s infrastructure could signal a turning point for tokenized assets.
As the demand for tokenized real-world assets grows, projections suggest that this market could reach $30.1 trillion by 2034. However, tokenized assets currently trail traditional financial products, with a market size of just $25.75 billion. This disparity reflects the cautious stance of institutions, which require blockchain infrastructure that meets their rigorous standards.
Fernando Vazquez, from Chainlink Labs, called the partnership a “watershed moment” that could spur the transition of mainstream assets onto the blockchain.
