By 
Blockchain oracle network Chainlink is collaborating with Circle, the principal operator of USD Coin (USDC), in a bid to broaden the coverage and usability of the token. The collaboration aims at exploiting Chainlink’s decentralized oracle network to facilitate real-time audit and cross-chain interactions of USDC.
Initially, the partnership will address updates to Circle’s USDC reserves, utilizing Chainlink’s price feed oracles for real-time data verification. The integration provides an increased level of transparency and accuracy for financial applications leveraging USDC, particularly those operating across different blockchain networks.
A few potential benefits of this collaboration include efficient cross-chain liquidity of USDC, enhanced data assurance and transparency, and the opening up of new possibilities for DeFi developers. Chainlink’s oracles will facilitate the accurate tracking of USDC’s total supply on various blockchain networks.
Source: CoinJournal
Comments