Chainlink teams up with Fireblocks to provide a unique solution for issuing and managing stablecoins

Share this article

Chainlink Labs and Fireblocks have joined forces to provide a comprehensive technology solution for issuing and managing stablecoins, as Chainlink announced on Tuesday.

The integrated platform combines the secure custody and management capabilities of Fireblocks with Chainlink’s decentralized Oracle network to provide a unique, 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,” said Angie Walker, Global Head of Banking and Markets capital at Chainlink Labs.

According to Chainlink, its key features include the issuance and secure custody of tokenized assets including stablecoins, enhanced transparency, real-time accessibility of market data, built-in KYC/AML compliance features and Travel Rules, among others.

Fireblocks and Chainlink expect the solution to make it easier for banks and financial institutions to issue and trade stablecoins in global financial markets. Companies believe it will help drive 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 increase the utility of stablecoin as a secure payment vehicle and institutional trading tool in digital asset markets. We intend to empower stablecoin issuers by providing a secure, intelligent and scalable solution that meets the high standards of both institutional and retail clients,” Walker noted.

Commenting on the partnership, Stephen Richardson, managing director of financial markets at Fireblocks, said it provides a timely solution for financial institutions looking to take advantage of the benefits of tokenized assets as the regulatory landscape for stablecoins continues to evolve.

“Stablecoins drive innovation in financial markets, and issuers need a comprehensive solution – from reserves to issuance, distribution, custody and compliance – that provides full visibility, including across multiple chains. By working with Chainlink, we are uniquely positioned to address these critical market needs for the widespread adoption of stablecoins,” said Richardson.

The partnership has secured support from Wenia, a digital asset company within the Bancolombia Group, Colombia’s banking giant.

“By combining leading technological solutions with a secure and reliable infrastructure, they create an advantage for the industry and promote 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 promoting the adoption of digital assets through secure and reliable infrastructure.

Share this article