Chainlink has announced a strategic partnership with Intercontinental Exchange (ICE) to enhance financial data accessibility on blockchain networks. The collaboration integrates ICE’s comprehensive forex and precious metals market data directly into Chainlink Data Streams.
This move brings Wall Street’s established reliability and data quality standards to decentralized finance (DeFi), aiming to address the demand for trustworthy real-world asset (RWA) data. The integration provides high-fidelity data crucial for the accurate pricing and operation of decentralized applications (dApps) and tokenized assets.
Over 2,000 dApps across the Chainlink ecosystem are expected to gain access to this high-quality market data through the integration. The partnership is viewed as a significant catalyst for bridging traditional finance (TradFi) with DeFi, facilitating the growth of tokenized assets.
The initiative emerges as forecasts, such as one from Standard Chartered, project the tokenized real-world assets market could expand to a staggering $30.1 trillion valuation by 2034, underscoring the potential scale and importance of reliable on-chain data feeds.