The partnership targets real-time visibility into asset reserves, regulatory compliance, and seamless interoperability across different blockchain networks.
Key Takeaways
- Fireblocks and Chainlink Labs collaborate to provide a full stablecoin technology solution.
- The partnership aims to enhance stablecoin utility in secure payments and institutional trading.
Chainlink Labs and Fireblocks have joined forces to deliver a comprehensive technology solution for issuing and managing stablecoins, as announced by Chainlink on Tuesday.
The integrated platform combines Fireblocks’ secure custody and management capabilities with Chainlink’s decentralized oracle network to provide a single, end-to-end solution for stablecoin issuers.
“Chainlink and Fireblocks offer a powerful suite of technology services that, when combined, are poised to accelerate market growth for all forms of tokenized money, such as stablecoins,” Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs, stated.
According to Chainlink, its key features include secure issuance and custody of tokenized assets, including stablecoins, enhanced transparency, real-time market data accessibility, built-in KYC/AML and Travel Rule compliance features, among others.
Fireblocks and Chainlink expect the solution to make it easier for banks and financial institutions to issue and transact with stablecoins across global financial markets. The companies believe it will help boost institutional and retail adoption of stablecoins in the financial industry.
“We expect this will not only provide stablecoin users with real-time visibility into asset reserves but also elevate the utility of stablecoin as a secure payment vehicle and institutional trading instrument in digital asset markets. We plan to empower stablecoin issuers by offering a secure, smart, and scalable solution that meets the high standards for institutional and retail customers alike,” Walker noted.
Commenting on the partnership, Stephen Richardson, Managing Director of Financial Markets at Fireblocks, said it offers a timely solution for financial institutions seeking to leverage the benefits of tokenized assets as the regulatory landscape for stablecoins continues to evolve.
“Stablecoins are driving innovation in financial markets, and issuers need a comprehensive solution—from reserves to issuance, distribution, custody, and compliance—that offers full visibility, including across multiple chains. By working with Chainlink, we are uniquely positioned to meet these critical market needs for large-scale stablecoin adoption,” Richardson stated.
The partnership has garnered support from Wenia, a digital asset company under the Bancolombia Group, Colombia’s banking giant.
“By combining top-tier technology solutions with secure and reliable infrastructure, they are creating a win-win for the industry and advancing the adoption of digital assets in a more inclusive, efficient, and accessible manner,” Pablo Arboleda, CEO of Wenia, praised the role of Fireblocks and Chainlink in advancing digital asset adoption through secure and reliable infrastructure.
