Coinbase has partnered with Chainlink to bring its institutional trading data onchain for the first time via the Chainlink DataLink service. This integration provides developers with secure, verified exchange data to build smarter decentralized finance (DeFi) applications, bridging traditional finance with blockchain for improved pricing and transparency.
Coinbase announced a partnership with Chainlink to bring its exchange data onchain, enabling institutional-grade trading data to power decentralized finance applications. Through Chainlink DataLink, blockchain platforms can now access data supporting billions in daily trading activity.
This partnership represents a major development in creating decentralized finance systems, Chainlink stated in a press release. Developers will gain the ability to build higher-quality pricing models and better risk management systems with direct access to premium market data.
Datasets initially available include spot price data, perpetual futures, and multi-asset derivatives data from Coinbase. I consider the partnership with Chainlink to be important to my company, stated Liz Martin, VP of Coinbase Markets.
Johann Eid of Chainlink Labs stated a long-term goal of changing how people think about the financial system. I believe secure data delivery is essential to the scalability of tokenized markets and to financial convergence, he said.
Coinbase joins other large institutions like S&P Global and FTSE Russell in adopting Chainlink’s data infrastructure. Following the announcement, Coinbase stock (COIN) saw slight positive returns according to a TradingView chart.
As a result of this partnership, Chainlink’s LINK token experienced minor growth. According to TradingView data, LINK traded at $9.30 as of today, increasing 1% since yesterday.
