Chainlink Partnering with Circle to Push for Stablecoin and DeFi Adoption Among Institution Clients

The Cayman headquartered oracle provider  Chainlink has announced plans to partner with stablecoin issuer Circle. The two partners plan to expand the use case of stablecoin among the institutions.

Under the partnership agreement, Circle and Chainlink will undertake various activities to increase stablecoin adoption.

Chainlink Partners with Circle 

The two partners will first launch education programs to equip developers with fundamental skills to create future-proof apps.

In the proposed education, the two companies will use their proprietary resources to train the developers, including programmable wallets, proof of reserve, data feeds, innovative contract platforms, and CCIP. 

An announcement conveyed by Circle executive Sandra Persing stated that the collaboration with Chainlink will play a critical role in transforming the financial sector. The official believes that integration Chainlink tools on Circle will encourage developers to offer cutting-edge solutions. 

Sandra acknowledged that the partnership between Chainlink and Circle offers the developers endless opportunities to create their projects.

The executive believes the two companies will unlock new opportunities in the decentralized finance sector (DeFi) through the partnership. In support of Sandra’s remarks, Chainlink lead developer Akersh Srivastava was pleased to state that the partnership will enable the two to explore untapped opportunities in crypto sector.

Chainlink Push for Stablecoin Adoption

Srivastava noted that developers require advanced tools to tokenize real world assets. He stated that collaboration would enhance infrastructure security that utilizes external data, proof of reserves, and interoperability capabilities.

The official added that the partnership will promote the use case of stablecoins such as USDC and EURC through the Chainlink platform. Circle boasts of owning the second-largest stablecoin by market cap. As of the press, over $32 million USDC is available. 

Importance of Tokenization of Assets 

On the other hand, Chainlink ranks as a leading Oracle provider critical in redefining the DeFi market. Chainlink has supported several oracle prices to facilitate transactions worth $1.3 trillion across multiple blockchain networks. 

In a separate report, Chainlink’s global head of finance, William Reilly, stated that the two companies’ partnership plays a critical role in the tokenization of assets. The executive stated that Chainlink will engage the Circle in exploring new opportunities.