Blockchain oracle project Chainlink and FIX connectivity solutions provider Rapid Addition are teaming up to create a FIX-native adapter.
Blockchain oracle project Chainlink and FIX connectivity solutions provider Rapid Addition are teaming up to create a FIX-native adapter specifically designed for institutional digital asset trading. This collaboration aims to enable banks and financial institutions to communicate and interact with a wide range of tokenized assets.
The adapter will be powered by Chainlink's Cross-Chain Interoperability Protocol (CCIP), an interoperability protocol that has diverse applications in areas such as token transfers, gaming, and decentralized finance (DeFi). By leveraging this technology, banks and financial institutions will have the ability to send messages and engage with various tokenized assets in what Chainlink sees as an untapped market opportunity.
Chainlink envisions that the FIX-native adapter will have significant use cases in renewable energy products, carbon credits, and real-world assets (RWAs) such as real estate, infrastructure, and collectibles. Vince Turcotte, the business development lead for Asia Pacific at Chainlink Labs, said: “combining Chainlink CCIP with Rapid Addition's FIX platform lowers the technical barriers of entry to new trading venues, buy-side participants, and brokers for digital assets."
The partnership between Chainlink and Rapid Addition ensures that existing risk and execution platforms will be able to interoperate with new blockchain-based asset types, enhancing overall efficiency and compatibility.
Regarding institutional adoption of blockchain and crypto, Mike Powell, CEO of Rapid Addition, said: “our users require access to liquidity and post-trade services regardless of the underlying technology. As a result of this collaboration with Chainlink, financial institutions will be able to leverage their existing trading infrastructure to enter the new era of digital assets."
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