Canton Network Integrates Chainlink to Bolster Adoption
The Canton Network has taken a significant step towards accelerating its adoption by institutions by integrating Chainlink, a leading Oracle platform. This strategic partnership enables Canton to leverage Chainlink’s solutions, including data flows and the interoperability protocol, to enhance its offerings. The integration is expected to strengthen the network’s introduction to institutions, providing cost-effective and secure integration of tokenized assets, stable coins, payments, and digital identity.
The Canton Network, an institutional financing blockchain, will utilize Chainlink’s data streams, SMARTDATA, and CROSS-CHAIN INTEROPERABILITY Protocol to join the “Chainlink Scale” program. This move will allow the platform to introduce the services of the Oracle Network to institutions, providing significant advantages. With Chainlink’s footprint on the decentralized financial market exceeding $100 billion in total value, and its network having processed over $25 trillion in transaction value, the partnership is expected to drive growth and adoption.
Key Benefits of the Partnership
The integration of Chainlink’s solutions will enable Canton to advance the introduction of tokenized assets, stable coins, payments, and digital identity in the network. The partnership will also provide cost-effective and secure integration, making it an attractive option for institutions. According to Yuval Rooz, Chief Executive Officer of Digital Asset, “Chainlink brought its community and solutions to Canton, not only strengthening our governance and resilience but also expanding the opportunities for innovators in traditional and decentralized finances.”
The Canton Network has already gained significant traction, with large banks and financial institutions, including BNP Paribas, HSBC, Bank of America, and Nasdaq, among its participants. The blockchain processes daily reposes of around $280 billion and runs on an ecosystem of over 500 validators, including 30 designated super validators. Chainlink Labs, one of the validators, brings its widespread infrastructure, which was integrated into the network by Swift, Mastercard, Fidelity International, and other leading financial institutions.
Conclusion
The integration of Chainlink by the Canton Network is a significant development in the institutional financing space. With its enhanced offerings and cost-effective integration, the platform is well-positioned to drive growth and adoption. As the decentralized financial market continues to evolve, partnerships like this will play a crucial role in shaping the future of institutional financing. For more information, visit https://crypto.news/canton-network-integrates-chainlink-bolster-adoption/
