Plasma Teams Up with chainlink for Stablecoin Growth
Plasma, a layer-1 blockchain for stablecoins, has partnered with Chainlink. This move aims to enhance the development and adoption of stablecoins on Plasma’s network.
By joining the Chainlink Scale program, Plasma gains access to Chainlink’s oracle solutions. These tools will help developers build more robust applications. The integration includes features like Cross-Chain Interoperability Protocol, Data Streams, and Data Feeds. These are available right from the start.
Chainlink’s services are crucial for Plasma’s growth. The network already supports Aave, a leading decentralized finance protocol. Aave has over $6.2 billion in deposits. Chainlink’s Data Feeds and CCIP have played a significant role in this success.
Johann Eid, Chainlink Labs’ chief business officer, said, “Plasma’s adoption of Chainlink shows how new layer 1 networks can launch with top-tier stablecoin infrastructure.”
With over $5.5 billion in stablecoin supply, Plasma is expanding quickly. This partnership will help it become a leading network for stablecoins and on-chain payments.
Chainlink’s growing presence in the DeFi ecosystem is notable.It has secured over $100 billion in total value. Major institutions like SWIFT, UBS, and Mastercard have integrated with Chainlink
