Chainlink & Amber Group Integration Details
Amber Group, a major global company that focuses on digital asset services and platform, recently joined forces with Chainlink, a well-known brand in the decentralized oracle system. The purpose of this project is to create asset transfer pricing facilities that are reliable and secure, with a special focus on catering to the expanding market of institutional customers in Europe, Asia and North America.
Amber Group will be able to provide asset transaction pricing facilities to a greater number of customers as a result of this partnership. Amber Group is going to utilize Chainlink Price Feeds so that it can gain access to data on the financial markets of the highest possible quality. Because of this, it will be able to expand its collection of digital asset offerings, such as its WhaleFin digital asset network.
The integration comes at a time when there has been a rise in the worldwide deployment of DeFi, which has caused problems with scalability and network congestion. As a consequence of these problems, we now face difficulties in the form of high network transfer costs, increased asset liquidity risk, and rising worries over the network’s security and resiliency.
Amber Group will be able to gain access to data concerning the real-world market rates of assets by utilizing Chainlink, which is a decentralized oracle network that offers smart contracts safe and dependable availability to external data, web APIs, Internet of Things devices, and payment systems, among other things. Customers of Amber Group now have access, thanks to this integration, to transaction pricing services that are more precise, also on-chain and off-chain combined payment systems for the blockchain sector.
The integration will assist to provide more value and effective NFT rarity services as well, hence generating new paths for the expansion of Amber Group’s company as well as additional client touchpoints in these regions. With the assistance of this integration with Chainlink, Amber Group will be able to provide on-chain and off-chain payment gateway services to a wide variety of commercial institutions, including those in the financial industry, the manufacturing industry, the Internet industry, the retail industry, and the logistics industry, amongst others. Specifically, Amber Group will be able to supply these services to commercial institutions in the United States.
Tomasz Wojewoda, Head of Global Sales at Chainlink Labs, said: “It is an exciting time for us as we support Amber Group in its next phase of growth. We are looking forward to a long and successful integration that helps enable Amber Group to accelerate the mass adoption of digital assets supported by Chainlink’s expanding collection of trust-minimized services.”
In his turn, Thomas Zu, Chief Technology Officer at Amber Group, added: “We are proud to integrate Chainlink, the industry-leading blockchain oracle solution. The Chainlink integration provides Amber Group with access to secure financial market data which will help unlock more blockchain innovations that are interoperable with more traditional infrastructure. As Amber Group continues to expand its global footprint, this will effectively help increase our capacity to accelerate our product and service innovation to better meet the dynamic demands of our customers.”