The collaboration between Chainlink and Rapid Addition aims to produce a blockchain adapter that leverages the capabilities of CCIP.
In Brief
In a strategic partnership, Chainlink has teamed up with Rapid Addition to design an adapter based on FIX protocols, specifically crafted for institutional transactions involving digital assets.
This platform specializes in cryptocurrency and technology, focusing on interactions with external data sources. Chainlink announced its collaboration with Rapid Addition Working with a provider that delivers solutions for financial information exchange (FIX), they are set to create a specialized adapter for institutions dealing in digital assets.
The forthcoming adapter will operate on Chainlink's CCIP, an interoperability protocol that covers token transfers, gaming, and decentralized finance.
Through this partnership, Chainlink aims to enable banks and financial institutions to interact with a diverse range of tokenized assets. They see tremendous potential in this 'untapped market,' especially in applications related to renewable energy, carbon credits, and real-world assets like real estate and collectibles.
FIX is pivotal in the communication of financial transactions, with its message formats meeting global standards for market data and trading activities both before and after they occur. By integrating with other systems, Chainlink FIX can enhance communication across blockchain networks while ensuring compliance with existing regulations, thereby optimizing traditional systems.
Moreover, combining Chainlink’s CCIP with Rapid Addition’s services in a blockchain adapter allows for a smooth and secure integration of FIX's standards with smart contracts—this advancement opens new pathways for trading digital assets.
Founded in 2003, Rapid Addition is a software solution provider that focuses on the worldwide electronic marketplace, offering innovations like low-latency FIX and FAST engines.
Chainlink’s CCIP has recently entered its General Availability phase, streamlining the process for token transfers between traditional businesses and blockchain environments.
Chainlink enables connections It functions as middleware, effectively bridging the gap between blockchain-based smart contracts and external data sources.
Having advanced to the General Availability stage last month, Chainlink’s CCIP now empowers developers to transfer tokens seamlessly across various blockchains without needing permission. Additionally, it supports the transfer of custom messages to smart contracts on other linked blockchains, allowing simultaneous transmission of data and value through programmable token transfers.
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