Chainlink Collaborates With Fireblocks To Create A Stablecoin Issuance Platform

JAKARTA Chainlink Labs and Fireblocks announced strategic cooperation in building new platforms for stablecoin issuance and management. This partnership aims to provide safer, more integrated, and efficient solutions for stablecoin publishers in various countries.

In an official statement on Tuesday, September 17, Chainlink revealed that the platform combines decentralized oracle technology from Chainlink with Fireblocks' asset management capabilities and secure custodies. As a result, this platform offers convenience in stablecoin lifecycle management, from issuance to digital asset storage.

With this platform, stablecoin publishers will get better transparency through real-time access to stablecoin backup data and market information. This is believed to increase the trust of financial institutions and retail users in utilizing stablecoins as payment instruments and investments.

Another main feature presented is compliance with regulations. This platform is equipped with the protocol of Know Your Customer (KYC), Anti-Money Laundering (AML), and Travel Rule rules, so that published stablecoins can operate in a safe and regulatory ecosystem.

Angie Walker, Head of Global Banking and Capital Markets at Chainlink Labs, called the partnership a move that would accelerate the growth of tokenized digital money, particularly stablecoins, by introducing new standards in digital asset security.

This partnership is also projected to make it easier for financial institutions to enter the stablecoin market. This platform offers integrated access ranging from issuance to compliance, which can help traditional financial institutions and new players in the digital asset industry.

Stephen Richardson, Managing Director of Financial Markets in Fireblocks, said this solution was very timely given the urgent market needs. In addition, Wenia's CEO of digital asset company, Pablo Arboleda, expressed optimism that this collaboration will be a win-win solution for all parties involved.