KEY TAKEAWAYS
- Stellar plans to integrate with Chainlink’s SCALE program, adopting its Data Feeds, Data Streams, and CCIP.
- This integration aims to enhance Stellar’s connectivity with DeFi, expanding its role in tokenized treasuries and real-world asset transactions.
- Chainlink’s solutions are expected to provide Stellar with secure tools for connecting assets to the broader DeFi landscape.
Stellar, a blockchain known for its open and permissionless nature, has announced plans to join the Chainlink SCALE program. This integration will involve the adoption of Chainlink’s Data Feeds, Data Streams, and the Cross-Chain Interoperability Protocol (CCIP). The move aims to expand the ways developers and institutions can utilize trusted data and cross-chain connectivity on the Stellar network.
Chainlink is recognized for its secure and reliable interoperability solutions, which have facilitated tens of trillions in on-chain transaction value. It powers a significant portion of decentralized finance (DeFi) protocols today. The integration with Chainlink is expected to enhance Stellar’s role as a bridge between real-world assets (RWAs) and DeFi. Stellar has been a leader in tokenized treasuries, recording $5.4 billion in quarterly RWA payment volume and fostering a DeFi ecosystem that has tripled in growth this year.
New Capabilities for Stellar Ecosystem
Once the integration of Chainlink’s CCIP is complete, it will introduce new capabilities to the Stellar ecosystem. This development will provide developers and institutions with more secure and trusted tools to connect Stellar-based assets with the broader DeFi landscape. According to Raja Chakravorti, Chief Business Officer at Stellar Development Foundation, this integration will offer significant advancements for the network.
Johann Eid, Chief Business Officer at Chainlink Labs, highlighted the potential of this collaboration to enhance Stellar’s connectivity with DeFi applications. The integration is set to provide a more robust framework for financial applications on the Stellar network.
For more information, the announcement can be found here.
Why This Matters: Impact, Industry Trends & Expert Insights
Stellar’s integration with Chainlink’s Data Feeds and CCIP is set to enhance its DeFi connectivity, providing developers and institutions with robust tools for cross-chain interoperability.
Recent industry reports indicate that cross-chain interoperability is a major trend in DeFi, with protocols like Chainlink playing a pivotal role. This aligns with Stellar’s strategy to leverage Chainlink’s infrastructure, enhancing its role in the DeFi ecosystem.
As per insights from industry experts, Chainlink’s oracles are critical in ensuring data integrity and security for smart contracts, which supports Stellar’s integration goals. This reinforces Stellar’s efforts to expand its DeFi capabilities and improve its cross-chain connectivity.
Explore More News:
Disclaimer: The views expressed in this article are those of the authors and do not necessarily reflect the official policy of CoinsHolder. Content, including that generated with the help of AI, is for informational purposes only and is not intended as legal, financial, or professional advice. Readers should do their research before taking any actions related to the company and carry full responsibility for their decisions.
