Chainlink, a leading industry-grade oracle firm, has partnered with Canton Network, a permissionless, public blockchain for institutional finance. The main purpose of this collaboration is to advance blockchain adoption among institutions. As revealed in Chainlink’s official announcement on social media, the development integrates its industry-grade oracle capabilities with the privacy-centered financial infrastructure of Canton Network. As a result of this, this development is a landmark in broadening real-world applications of blockchain for financial institutions.
Chainlink and Canton Network Partner to Accelerate Institutional-Level Blockchain Adoption
In partnership with Canton Network, Chainlink is boosting blockchain adoption within the institutional landscape. In this respect, this move highlights the merger of regulatory-scale compliance with the cutting-edge decentralized connectivity of data to unlock the next era of blockchain use cases for institutions. Hence, with this collaboration, Canton Network has officially participated in the Chainlink Scale program.
Keeping this in view, Canton Network’s participation in the Chainlink Scale program permits the integration of Chainlink Data Streams, SmartData solutions like NAVLin and Proof of Reserve, apart from the Cross-Chain Interoperability Protocol (CCIP). As a result of this, the institutional ecosystem of Canton Network gets seamless access to robust infrastructure that secures more than $100B in DeFi while having powered over $25T in overall transfer value.
Apart from that, Chainlink Labs will serve within the Canton Network in the form of a Super Validator, becoming a noteworthy Global Synchronizer participant. The respective interoperability layer plays a central role in the architecture of Canton, guaranteeing secure and seamless connections across diverse institutional utilities. By incorporating the oracle ecosystem of Chainlink, Canton Network improves its capability to back tokenized assets, digital identity-related solutions, real-time cross-market settlement, and stablecoins.
Fortifying Institutional Blockchain Utilities by Expanding Footprint in Regulated Markets
According to Chainlink, the development underscores the rising demand from mutual institutional collaborators, several of whom are launching or evaluating on-chain, tokenized financial products. Thus, with the availability of Chainlink’s infrastructure, financial institutions and developers within the Canton Network will get comprehensive opportunities for the development of secure, compliant, and scalable solutions. Ultimately, the joint initiative displays the expanding influence of Chainlink beyond DeFi, entering regulated financial markets.
