In a significant move for the blockchain and foreign exchange sectors, Chainlink has announced a partnership with New Change FX. This collaboration is set to revolutionize the way FX pricing data is accessed and utilized across blockchain networks. The analytical report published in the material substantiates the following: this partnership will enhance transparency and efficiency in currency trading.
Chainlink and New Change FX Announce FCA-Regulated FX Benchmarks
On December 18, Chainlink and New Change FX revealed their plan to publish FCA-regulated FX benchmarks on over 70 blockchain networks. This initiative aims to provide accurate and reliable FX pricing data on-chain, which is crucial for various financial applications.
Enhancing On-Chain Financial Services
The partnership is designed to support on-chain lending and borrowing protocols by offering standardized rates, thereby enhancing the overall efficiency and transparency of these financial services. Additionally, the collaboration seeks to improve regulatory compliance for institutions operating in the blockchain space, ensuring that they adhere to established financial standards.
The recent partnership between Chainlink and New Change FX highlights advancements in blockchain applications, while the Sui blockchain's collaboration with LINQ promises to enhance transaction efficiency in Nigeria. For more details, see Sui and LINQ.
