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Chainlink Joins Forces with Rapid Addition to Bridge Institutional Finance and Blockchain

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Chainlink, a blockchain oracle project, has partnered with Rapid Addition, a leading provider of Financial Information eXchange (FIX) connectivity solutions.

Together, they aim to develop a groundbreaking FIX-native adapter that will facilitate seamless institutional digital asset trading.

The collaboration leverages Chainlink’s Cross-Chain Interoperability Protocol (CCIP).

This is an advanced interoperability protocol with a wide range of applications spanning token transfers, gaming, and decentralized finance (DeFi).

This strategic partnership seeks to empower banks and financial institutions with the ability to send messages.

It will also help them engage with a diverse array of tokenized assets, unlocking new frontiers in the world of digital finance.

Unleashing the Potential of Tokenized Assets

Chainlink’s visionary approach recognizes the vast untapped market opportunities that lie within the realm of tokenized assets.

The FIX-native adapter will enable financial institutions to explore and leverage the potential of renewable energy products.

This will include carbon credits, and real-world assets (RWAs) such as real estate, infrastructure, and collectibles.

This partnership promises to open up new avenues for institutional investment and participation in the rapidly evolving digital asset industry.

According to Vince Turcotte, Chainlink Labs’ business development lead, the FIX-native adapter holds immense potential for revolutionizing post-trade operations.

Financial institutions will be empowered to encode smart contracts with FIX tags and instructions, enabling a single source of truth for trade allocations.

“We expect this will be particularly useful for the post-trade environment, as it will allow a single source of truth for trade allocations.

“This can be shared simultaneously and with no replication between brokers, asset managers, and custodians,” Turcotte explained.

This innovative approach promises to significantly reduce settlement errors and rejection rates, as trade information can be seamlessly integrated into downstream legacy systems.

Fostering Interoperability and Cost Savings

The integration between Chainlink and FIX ensures that existing risk and execution platforms will “interoperate” with new blockchain-based asset types.

This will foster a harmonious coexistence between traditional finance and cutting-edge digital assets.

Moreover, asset managers and their clients stand to benefit from large cost savings facilitated by this infrastructure.

As Turcotte highlighted, “Asset managers and their clients can save costs by having a single source of truth for settlement instructions.

This will be available to all counterparties to trade and constantly updated 24/7.”

Turcotte anticipates that digitally native institutions will be the early adopters of this transformative integration.

These forward-thinking organizations recognize the value of leveraging the FIX protocol to engage with the broader traditional finance ecosystem.

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