Ondo Finance has named Chainlink as its official oracle supplier for tokenized shares and exchange-traded funds (ETFs), with the intention of enhancing the best way monetary information strikes throughout blockchain networks.
Chainlink gives customized value feeds for over 100 tokenized shares on Ondo’s platform, together with US-listed shares and ETFs. In line with a press release shared with CoinDesk, Ondo’s tokenized shares are at the moment unfold throughout 10 blockchains, with a complete worth of over $320 million locked.
The information contains firm actions comparable to dividend funds and is meant to assist maintain valuations correct throughout the varied blockchains on which these belongings are traded.
Ondo not too long ago expanded into the BNB chain, growing its entry, particularly in Asia and Latin America, the place BNB has a big person base.
These belongings are aimed toward non-U.S. traders who need publicity to U.S. markets and face restricted entry to conventional securities companies.
The businesses plan to leverage Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as the usual for establishments transferring tokenized belongings between blockchains. CCIP is already being examined for comparable use instances by conventional monetary corporations comparable to interbank messaging service Swift and clearing, settlement, and transaction reporting supplier DTCC.
This settlement is a part of a broader cooperation. Chainlink joins the Ondo World Market Alliance, a bunch of corporations supporting the adoption of tokenized shares on-chain.
In parallel, Ondo will be a part of Chainlink’s Company Motion Initiative, which incorporates 24 monetary establishments comparable to Swift, DTCC and Euroclear, targeted on bringing market infrastructure to blockchain rails.
