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Chainlink Partners With Rapid Addition to Reimagine Institutional Trading with Blockchain Adapter

by BSC News

May 1, 2024

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This collaboration will enable financial institutions to seamlessly interact with a diverse range of tokenized assets, from carbon credits and renewable energy to real estate and collectibles.

Chainlink and Rapid Addition and Chainlink have teamed up to develop a FIX-native blockchain adapter, according to a press release shared with BSC News. This technological advance is powered by Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and promises to streamline institutional access to a burgeoning range of tokenized assets.

 

This collaboration will allow banks and financial institutions to transmit messages and interact with an expansive array of tokenized assets. Such assets cover a broad spectrum, from carbon credits and renewable energy products to tangible assets like real estate, infrastructure, and collectibles.

 

Mike Powell, CEO of Rapid Addition, emphasizes the strategic advantages of this partnership: 

 

"Working with Chainlink on this new capability means our clients will benefit from seamless and secure integration into blockchain-based platforms without the need to duplicate systems and controls.” 

 

Per reports, institutions can now access liquidity and post-trade services efficiently, regardless of the underlying technology involved.

Enhancing Financial Communication with FIX Protocol

FIX protocol complements Chainlink’s blockchain solutions by facilitating interoperability with existing financial systems. It has been the industry’s communication standard for over 30 years, aligning with global regulations across market data and transaction processes. 

 

By incorporating Chainlink’s capabilities, FIX can now support transaction flows on and across blockchain networks, providing a compliant and efficient schema for financial market interactions.

 

The adapter prototypes have demonstrated the potential to connect popular industry protocols to smart contracts by implementing the initial recommendations from the newly established digital assets and technology committee. This connection would reportedly allow for unlocking new opportunities in digital asset trading.

Chainlink CCIP: Enabling Flexible, Cross-Chain Interactions

Chainlink recently announced the general availability of CCIP. This was a significant milestone that facilitated developers in transferring tokens, sending messages, and integrating data and value across various blockchains seamlessly. 

 

Supported networks include prominent platforms like Arbitrum, Avalanche, and Ethereum. Several key players in the decentralized finance (DeFi) space, such as AaveMetis, and WEMADE, have integrated CCIP into their operations. 

Disclaimer

Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article

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