Chainlink and Circle have partnered to integrate Chainlink’s decentralized oracle network with Circle’s USDC and EURC stablecoins.
The integration of Chainlink into the Circle environment has expanded the capabilities of Circle’s stablecoins, USDC and EURC.
This agreement will enable the integration of Circle’s financial services with Chainlink’s decentralized services. This will allow developers to have access to the resources they need to create full financial applications.
Chainlink Partners with Circle
Chainlink is a decentralized oracle network, and Circle, which is also the issuer of USDC and EURC stablecoins, has recently formed a partnership with Chainlink.
As part of the partnership, Circle’s Programmable Wallets and Chainlink services, which include data feeds and proof of reserve, will provide developers with the knowledge and skills necessary to incorporate stablecoins into their applications.
Consequently, this will aid in establishing the essential foundation and guidance required for developers to create DeFi apps that are both superior and safer. Sandra Persing, Vice President of Product, Developer, and Ecosystem Marketing, expressed her enthusiasm for the collaboration within Circle.
According to her, this relationship is extremely important in light of the increasing demand for internet-native financial services, particularly digital financial services.
Circle Expands to Brazil
In addition, The USDC issuer recently announced that it would be expanding its services into the Brazilian market through a partnership with Nubank, which is a leading financial technology business in the country.
It is anticipated that this decision would make it possible to improve the availability of digital dollars in Brazil as well as supply USDC in a manner that is simple, efficient, and available around the clock.
For the purpose of bringing USDC to the retail and institutional sectors, the expansion will involve relationships with renowned Brazilian financial companies like BTG Pactual.
Circle’s co-founder and CEO, Jeremy Allaire, expressed his enthusiasm for the growth, adding that it has the potential to alter the Brazilian financial landscape by making it simpler for individuals to participate in the global economic system.
Allaire expressed his delight about the development.By leveraging these relationships, The USDC issuer intends to improve the digital financial services that it offers to businesses and consumers in Brazil. This will make it possible for USDC to develop into a digital currency that is extremely liquid and flexible within the Brazilian market.
In the meantime, the price of Chainlink (LINK) has been in a bearish rally during the past twenty-four hours, fluctuating between an intra-day high of $18.06 and a low of $19.16, respectively.
At the time of this publication, LINK was trading at $18.30, representing a decrease of 2.80% from its intra-day high. During the slump, both LINK’s market capitalization and its 24-hour trading volume fell by 2.41% and 17.23%, respectively, reaching $10,743,010,047 and $523,064,670, respectively.
As a result, the open interest in the LINK fell 5.31 percent, reaching $258.10 million.