Chainlink Partners
with Fireblocks
for Regulated Stablecoin Issuance
Chainlink Labs and Fireblocks have teamed up to offer a secure and compliant
technology solution for financial institutions like banks.
This will enable institutions to issue and transact stablecoins in global
markets, with support for end-to-end tokenization capabilities for stablecoin
issuers.
Chainlink and Fireblocks To Accelerate Regulated Stablecoin Issuance
The partnership between Chainlink Labs and Fireblocks will provide end-to-end
technology solutions for financial institutions working with regulated
stablecoins. This collaboration sets a new industry standard for stablecoin
issuance, offering a comprehensive tokenization engine to securely mint,
custody, distribute, and manage tokenized assets.
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The solution also includes advanced features such as data coordination,
connectivity, compliance, custody, interoperability, and liquidity
distribution. These capabilities will give financial institutions (issuing
agents) a complete view of stablecoins, including their reserves, market
value, and total supply across various blockchains.
Notably, both Fireblocks and Chainlink played a role in the launch of the COPW
stablecoin in July, part of Bancolombia Group’s efforts to enhance the
transparency of its 1:1 peso-backed stablecoin, according to an official press
release .
“It is great to see Fireblocks and Chainlink, two of our COPW launch partners,
collaborate to further enhance the usability of regulated stablecoins. By
combining top-tier technology solutions with secure and reliable
infrastructure, they are creating a win-win for the industry and advancing the
adoption of digital assets in a more inclusive, efficient, and accessible
manner,” Wenia CEO Pablo Arboleda said.
Read more: What Is Chainlink (LINK)?
This is not the first of Chainlink’s strategic collaborations in September.
Recently, Sony• Объект организация » Организации по алфавиту » Организации на So » Sony Corporation’s Soneium integrated Chainlink’s CCIP as its core cross-chain
infrastructure for blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн growth.
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Amidst this news, analysts say investors are placing bullish bets on the
Chainlink (LINK) token. As BeInCrypto reported, over 6 million LINK tokens
have been withdrawn from exchanges , with bulls outpacing bears. When token
holders withdraw their holdings from exchanges, it often indicates confidence
in the asset, which is why they are not looking to sell. LINK Price
Performance. Source: BeInCrypto
BeInCrypto data shows that the LINK price has yet to register the effects of
investor confidence. As of this writing, it is trading for $10.59, down by
0.81% since Tuesday’s session opened.
Stablecoins Driving Innovation in Financial Markets
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Chainlink and Fireblocks recent collaboration indicates the growing
role of stablecoins in driving innovation across different sectors. According
to a Chainalysis report, stablecoin demand is surging in emerging markets ,
particularly in countries such as Nigeria, Turkey, Thailand, and Brazil,
reflecting their importance in global financial ecosystems.
Tether s efforts in expanding the use of stablecoins include the launch
of Alloy , a gold-backed digital currency that advances real-world asset (RWA)
tokenization. Tether has also ventured into education, investing in blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
and digital asset learning initiatives in Taiwan . Recently, Tether acquired a
9.8% stake in Adecoagro, a major agricultural company, for $100 million,
further diversifying its portfolio across sectors, including AI and Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin
mining.
On the other hand, USDC is leading the regulated stablecoin market on volume
metrics . This makes it a strategic participant in the stablecoin innovation
wave. On this account, Coinbase and Stripe recently partnered to integrate
USDC on Base, enhancing Stripe s crypto product suite. Similarly,
BlackRock’s tokenized RWAs can be exchanged for USDC , delivering faster, more
transparent, and more efficient transactions.
“As regulatory frameworks around tokenized money continue to evolve, the
potential for regulated stablecoin usage at the institutional level is
expanding. Stablecoins are driving innovation in financial markets, and
issuers need a comprehensive solution—from reserves to issuance, distribution,
custody, and compliance—that offers full visibility, including across multiple
chains,” Fireblocks managing director Stephen Richardson told BeInCrypto.
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Read more: A Guide to the Best Stablecoins in 2024
Despite widespread adoption, stablecoins remain under scrutiny from
regulators. A recent report by Consumers’ Research flagged issues in
Tether s audits , raising concerns about transparency in the stablecoin
sector.
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