Chainlink & Rapid Addition to Develop Blockchain Adapter for Institutions
Blockchain oracle project Chainlink has formed a partnership with FIX connectivity solutions provider Rapid Addition to create a FIX-native adapter for institutional digital asset trading. Powered by Chainlink’s Cross-Chain Interoperability Protocol (CCIP), the adapter will enable banks and financial institutions to communicate and interact with a wide range of tokenized assets. This collaboration is seen as an untapped market opportunity that has potential application in renewable energy, carbon credits, and real-world assets such as real estate and collectibles.
Vince Turcotte, Chainlink Labs’ business development lead for Asia Pacific, explained that the adapter allows financial organizations to encode smart contracts with FIX tags and instructions. This feature will be particularly useful in the post-trade environment, as it allows for a single source of truth that can be shared between asset managers, brokers, and custodians, reducing settlement errors and rejections. The integration between Chainlink and FIX ensures that existing risk and execution platforms can interact with new blockchain-based asset types.
Turcotte expects digitally native institutions to be the early adopters of this integration, as they recognize the value of using the FIX protocol to engage with the wider traditional finance ecosystem and the benefits of blockchain technology’s permanence and truth. Asset managers and their clients can benefit from cost savings by having a single source of truth for settlement instructions available to all parties involved in a trade, updated constantly throughout the day.
This partnership between Chainlink and Rapid Addition is significant in expanding the reach of blockchain technology within the financial industry, particularly in institutional digital asset trading. The ability to securely and efficiently interact with tokenized assets opens up new possibilities for banks and financial institutions, allowing them to explore alternative investment opportunities and streamline their operations. By leveraging the power of Chainlink’s CCIP and the FIX protocol, this integration is expected to drive further adoption of blockchain technology among digitally native institutions and provide cost-saving advantages for asset managers and their clients.
13 thoughts on “Chainlink & Rapid Addition to Develop Blockchain Adapter for Institutions”
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I don’t see how this integration will bring any real value to the industry. It’s just a flashy idea with no substance.
The financial industry needs practical solutions, not blockchain fantasies. This partnership is a step in the wrong direction. 😫
This collaboration will revolutionize the way we trade assets. The possibilities are endless with Chainlink and Rapid Addition leading the way!
Cost savings for asset managers and their clients? Sign me up! This partnership is a win for everyone involved. 🚀
There are already enough complications in the financial industry. Adding blockchain to the mix will only create more confusion and uncertainty. 😫
This collaboration is a win for everyone involved from asset managers to brokers and custodians. Seamless communication is the future!
The expansion of blockchain technology in the financial industry is unstoppable. Kudos to Chainlink and Rapid Addition for pushing the boundaries!
This collaboration between Chainlink and Rapid Addition is a game changer! Exciting times ahead for blockchain technology!
The potential applications of this partnership are mind-boggling. It’s a game changer for the financial industry and beyond! 🚀
This collaboration is a waste of time and resources. The financial industry should focus on more pressing issues instead of chasing after blockchain hype.
This is just another unnecessary integration that complicates the already complex financial industry. Blockchain technology is overhyped and not worth the investment.
It’s disappointing to see financial institutions wasting their time and money on blockchain projects that have little to no practical use.
This integration is just what digitally native institutions need to embrace blockchain technology and explore new investment opportunities.