Hedera

DeFi

Chainlink

Reserve

Hedera has adopted Chainlink’s suite of smart data products to accelerate the growth of decentralized finance and tokenized real-world assets. 
The Hedera (<a rel="" href="https://crypto.news/price/hedera/">HBAR</a>) team <a href="https://hedera.com/blog/hedera-adopts-the-chainlink-data-standard-to-accelerate-defi-and-tokenized-rwa-adoption" target="_blank" rel="nofollow">announced</a> on Dec. 16 that Chainlink (<a rel="" href="https://crypto.news/price/chainlink/">LINK</a>)’s Data Feeds and Chainlink Proof of Reserve were now live on the Hedera mainnet. 
The integration aims to bolster developers on the Hedera network by enabling access to high-quality data and proof-of-reserve verification. According to a blog post by the platform, Hedera developers can now utilize this data technology for DeFi and tokenized RWA projects. 
 You might also like: <a rel="" href="https://crypto.news/coinbases-project-diamond-integrates-chainlink/"> Coinbase’s Project Diamond integrates Chainlink </a> 
The Hedera and Chainlink integration follows the recent key partnership between HBAR Foundation and Chainlink, with the latter <a href="https://www.hbarfoundation.org/blog-post/hbar-foundation-joins-chainlink-scale-with-chainlink-data-feeds-and-chainlink-ccip-being-integrated-on-hedera" target="_blank" rel="nofollow">joining the Chainlink Scale program</a>. 
Developers will benefit from Chainlink’s high-quality data aggregation, secure node operations, and decentralized infrastructure. Additionally, users will gain programmatic utility with on-chain reserve data. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “By making the Chainlink standard available to our developer ecosystem, we can enable increased access to high-quality, tamper-proof data backed by decentralized infrastructure, which is mission-critical for building secure DeFi applications and scalable tokenized assets.” 
 Elaine Song, vice president of strategy at The HBAR Foundation 
</blockquote> 
Chainlink’s growing role as a leader in on-chain finance and cross-chain interoperability has led to partnerships with numerous crypto and traditional finance companies. Its oracle network has secured over $17 trillion in value across blockchain transactions. 
Beyond Hedera, Chainlink’s data standards and proof-of-reserve technology power other major DeFi protocols such as Aave, Lido, and GMX. Traditional financial institutions, including Fidelity, Swift, UBS, and ANZ Bank, also leverage Chainlink’s technology. 
 Read more: <a rel="" href="https://crypto.news/backed-sonic-and-chainlink-partner-to-tokenoze-fortlakes-sigma-fund/"> Backed, Sonic and Chainlink partner to tokenoze Fortlake’s Sigma fund </a>

Hedera taps into Chainlink’s data standard to boost DeFi and RWA adoption

crypto.news

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