Crypto.com Integrates Chainlink: An Important Step on the DeFi Roadmap
Crypto.com is the latest famous blockchain project to integrate Chainlink. It will use Chainlink's decentralized oracle to move faster on its DeFi roadmap for CRO.
The initial integration phase covers the addition of Chainlink's price reference contracts on the Crypto.com DeFi Wallet. It will help developers access the prices of their DeFi tokens. Crypto.com will also provide decentralized price benchmark data for CRO / ETH and CRO / USD on the Chainlink Network.
Crypto.com is moving faster into the world of DeFi
The DeFi Wallet on Crypto.com was launched earlier this year to represent this service's serious plans for the new ecosystem in the blockchain industry. The wallet provides secure and easy access to the DeFi ecosystem for users and is powered by the CRO token. Now, with the help of Chainlink's price benchmark data, wallet users will have access to real-time, accurate and transparent data on their stocks.
Crypto.com can better advance its DeFi goals by providing accurate data to DeFi wallet users. Kris Marszalek, Co-Founder and CEO of Crypto.com said:
“We are absolutely thrilled to partner with Chainlink to help us execute our ambitious DeFi roadmap as we seek to rapidly build, deliver and scale the # 1 DeFi wallet powered by CRO. Chainlink will help us decentralize and give our users more control to verify where and how price data is received and used within the Crypto.com DeFi Wallet. This gives our users more control of their money, data and identity without having to trust a central entity; We believe that it is not just the future of finance, it is your basic human right.
Oracles have been critical components in the DeFi boom. They offer access to on-chain and off-chain data for smart contracts, the vital parts of the DeFi ecosystem. Chainlink, a leading decentralized Oracle vendor, has managed to partner with big names in the industry and has seen considerable growth in recent months.
Sergey Nazarov, co-founder of Chainlink, said of the new partnership:
“We are excited to empower Crypto.com with safe and reliable pricing to help enhance the capabilities of your DeFi wallet. By shifting key processes for financial products, such as calculating interest rates and managing a portfolio to more transparent and decentralized alternatives, users receive even greater assurance that those services reflect actual market conditions and are not bound by any form. of human manipulation ».
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