NEWCHANGEFX & CHAINLINK COLLABORATION.
New Change FX (NCFX) is pleased to announce that they will be making their premium FX, precious metal, and crypto asset market data covering circa 2,300 currency pairs available on leading blockchains through the Chainlink Network. Using Chainlink’s large collection of secure node operators, smart contract developers can access NCFX’s live, regulated, independent benchmark and reference data and analytics directly on-chain when building applications and products in Decentralized Finance (DeFi)—a new parallel financial system running on top blockchains (on-chain) that provide transparent, openly accessible, and decentralized financial instruments.
The decision to transition to a blockchain data provider on the Chainlink Network should come as no surprise as DeFi markets are quickly expanding in value. Most DeFi products require high-quality financial data, and Chainlink is the industry leading oracle provider to DeFi. Getting our existing suite of APIs blockchain-enabled through Chainlink was quick and easy, requiring no changes to our existing API infrastructure. Thus, we are able to expose our data to emerging DeFi markets and support their growth, while also increasing our revenue as a data provider.
Developers will be able to use the Chainlink Network to access our FX benchmark and reference rates and transaction cost analytics for traditional markets, precious metals, and crypto assets. They envision their data being used across decentralized finance (DeFi) applications to trigger actions within on-chain financial products like derivatives contracts, lending pools, insurance products, algorithmic stablecoins, automated trading strategies, and much more.
About Chainlink
Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
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