Chainlink’s Top RWA Alliances: Can it Aid LINK Price?
Chainlink aims to play a key role in the growth of tokenized real-world assets (RWAs). The decentralized oracle network provides the technology to support and scale tokenized assets. Tokenized RWAs are quickly becoming one of the biggest opportunities in blockchain. Experts predict that by the 2030s, RWAs could be worth tens of trillions of dollars. So what role exactly would Chainlink play in it and how will it aid LINK’s price and ecosystem growth? Chainlink, On the Ultimate Missio Chainlink’s mission is to provide a trusted infrastructure to connect real-world assets to blockchains. The Oracle service provider believes that it will make applications more useful, transparent, and efficient. So far, Chainlink has helped secure more than $20 trillion in blockchain transactions in total value enabled. The network provides on-chain services including Cross-Chain Interoperability Protocol (CCIP), Data Feeds, Proof of Reserve, and Chainlink Functions. These services have helped developers and institutions tokenize, verify, and move real assets across public and private blockchains. The Chainlink RWA Alliances to Note Several major institutions and platforms use Chainlink to build or improve their tokenized asset systems. Coinbase’s Project Diamond is using Chainlink’s tools for full lifecycle management of tokenized assets. It helps the project stay compliant while offering secure cross-chain functionality. Fireblocks has joined forces with Chainlink Labs to help banks and financial institutions safely and legally create and use stablecoins in global markets. Together, they help stablecoin issuers secure asset minting, pricing, compliance, custody, and transfer of assets. Source: Chainlink on X Similarly, Taurus has teamed up with Chainlink to solve three major problems in the tokenized RWA space: security, price accuracy, and asset movement across blockchains. They have already tested moving USDC between on-chains using Chainlink’s CCIP. OpenEden, a leading RWA platform, also uses LINK’s price feeds and cross-chain tools to improve the functionality of its USDO stablecoin. Backed, in partnership with Sonic and Fortlake Asset Management, is using Chainlink to tokenize traditional assets and bring them into DeFi. The project’s protocol powers these tokens’ price feeds, collateral verification, and cross-chain movement. Sygnum and Fidelity International use the project to bring Net Asset Value (NAV) data onchain for a $6.9 billion liquidity fund. This initiative allows real-time updates and better access to fund data. Startups Using Chainlink Keeps Growing Another key highlight of the oracle’s RWA alliances is Fasanara, a digital investment manager. The startup recently launched a money market fund on the Polygon blockchain. The firm is using project’s tools to help verify asset backing and support the fund’s smooth operation across chains. Spiko, in partnership with CACEIS, is using Chainlink to bring NAV data of its EUR and USD money market funds onto Ethereum network. It is a first in the European Union and it sets a new standard in fund transparency. Other known names like PayPal’s PYUSD stablecoin, issued by Paxos, has adopted Chainlink price feed on Ethereum. This integration helps to ensure accurate and decentralized pricing data. Ripple’s RLUSD stablecoin also relies on Chainlink for reliable pricing. It helps the stablecoin find more use in DeFi applications. LINK Price: Is It Matching Up? With so many high-profile partnerships and growing adoption, many expect the price of LINK, to break out. When writing, LINK price was trading at $12.62, up by $1.66% in the last 24 hours. Notably, the broader crypto market is currently facing volatility, which may be impacting the asset’s value. However, an expert predicted the token could breakout if it continues to show resilience and breaks critical support.