Ondo Taps Chainlink to Power Data Feeds for 100+ Tokenized Equities
Ondo Finance named Chainlink because the official oracle supplier for its tokenized shares and exchange-traded funds (ETFs), aiming to enhance how monetary knowledge strikes throughout blockchain networks.
Chainlink will provide customized worth feeds for the greater than 100 tokenized equities on Ondo’s platform, together with U.S.-listed shares and ETFs. Ondo’s tokenized equities now span 10 blockchains and signify over $320 million in complete worth locked, in accordance with an announcement shared with CoinDesk.
The info consists of company actions like dividend funds and is meant to assist hold valuations correct throughout the varied blockchains the place these belongings are traded.
Ondo has just lately expanded to the BNB Chain, broadening entry notably in Asia and Latin America, the place BNB has a big consumer base.
These belongings are aimed toward non-U.S. traders who need publicity to U.S. markets and face restrictions accessing conventional brokerage companies.
The 2 corporations plan to leverage Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as a typical for establishments transferring tokenized belongings between blockchains. CCIP is already being examined by conventional finance companies together with interbank messaging service Swift and DTCC, which supplies clearing, settlement and commerce reporting, for related use circumstances.
The settlement is a part of a broader collaboration. Chainlink is becoming a member of the Ondo International Market Alliance, a bunch of companies supporting the adoption of tokenized shares onchain.
In parallel, Ondo will be a part of Chainlink’s company actions initiative, which incorporates 24 monetary establishments resembling Swift, DTCC and Euroclear centered on bringing market infrastructure onto blockchain rails.
