Chainlink and Circle team up to boost DeFi usability and cross-chain USDC

Oracle network Chainlink announced today that it’s teaming up with Circle to enhance the utility of stablecoins in the decentralized finance (DeFi) ecosystem. The partnership also marks Chainlink’s commitment to supporting USD Coin (USDC) on the chains enabled by its Cross-Chain Interoperability Protocol (CCIP), promoting secure cross-chain transfers.

“Chainlink’s integration of Circle’s stablecoin developer technology will empower innovators building Internet-native financial services,” said Sandra Persing, VP Product, Developer, and Ecosystem Marketing at Circle. “There are immense opportunities for builders right now and we look forward to continuing our partnership with Chainlink to unlock new capabilities for the DeFi ecosystem.”

Since its inception, Chainlink’s price oracles have facilitated over $1.3 trillion in transactions involving USDC across six different blockchains, significantly contributing to the DeFi market’s liquidity.

Additionally, this collaboration aims to integrate Circle’s developer platform with Chainlink’s suite of services, such as its CCIP, Data Feeds, and Proof of Reserve, while also providing educational resources for developers on using USDC and Euro Coin (EURC) to create resilient applications.

“Financial institutions’ growing interest in tokenized assets means developers need robust tools and secure infrastructure to leverage external data, proof of reserves, and interoperability,” stated Akersh Srivastava, Head of Developer Relations at Chainlink Labs. “We’re excited to partner with Circle to boost USDC and EURC utility through Chainlink services which are critical throughout the entire tokenized asset lifecycle.”