Payments-focused blockchain platform Stellar plans to leverage oracle network Chainlink’s solutions, including data standards and cross-chain interoperability protocol, to increase decentralized financial traction on the blockchain network.
Summary
- Stellar integrates Chainlink to leverage data feeds, data streams and the Cross-Chain Interoperability Protocol.
- Developers and institutions will benefit from the same solutions that generate over $100 billion in total value captured in DeFi.
- Integration will also strengthen the real-world tokenization of assets on the public blockchain.
Stellar will join the Chainlink Scale program and integrate key Chainlink solutions including Cross-Chain Interoperability Protocol, Data Feeds and Data Streams, according to a press release.
What does this mean for Stellar?
The integration will allow developers and institutions to leverage trusted data and cross-chain interoperability while building decentralized applications on Stellar (XLM). With Chainlink (LINK), Stellar hopes to expand its ecosystem across the fast-growing real asset and decentralized finance markets.
The move to collaborate comes as tokenized treasuries, RWA payments and the general resurgence of DeFi highlight the sector’s growing traction amid regulatory shifts.
“With the decision to integrate CCIP, Data Feeds and Data Streams, Stellar is enabling its ecosystem to access the secure and reliable infrastructure needed to support institutional-level tokenization and seamless cross-chain applications,” said Johann Eid, Chief Business Officer at Chainlink Labs. “This collaboration significantly accelerates Stellar’s ability to scale to meet the demands of a unified on-chain financial system.”
Specific benefits of XLM resulting from this integration include proven security through CCIP’s consensus layer. This solution, powered by Chainlink Decentralized Oracle Network, has helped secure over $100 billion in total volume locked through DeFi.
CCIP gives developers production-ready interoperability.
Developers and institutions can also use token-agnostic transfers and programmable token transfers, among others. Chainlink’s data standards will unlock DeFi on the XLM network.
“Once the integration is complete, Stellar will be one step closer to a unified on-chain financial system where real assets and DeFi coexist seamlessly,” said Raja Chakravorti, chief business officer at Stellar Development Foundation.
XLM and LINK tokens posted slight gains amid the news and as the broader crypto market appeared to rebound after this week’s sell-off.
