Chainlink to Start Supplying Data for Crypto.com's DeFi Wallet
Crypto.com has announced a new partnership that will see Chainlink's price feeds integrated into its decentralized finance (DeFi) wallet offering.
- The Hong Kong-based payment card and wallet provider said Monday that Chainlink's Price Reference Data – its decentralized oracle network – had been plugged directly into the DeFi wallet, giving users ready access to its price feeds.
- Per a press release, Crypto.com said the integration meant users would receive "highly accurate and transparent prices" on all assets supported in the wallet.
- Chainlink co-founder Sergey Nazarov said the integration means the prices users see will reflect actual market conditions, rather than being the product of "human tampering."
- Crypto.com launched its wallet earlier this year as a user-friendly means to access the buzzing DeFi space – where total value locked (TVL) ballooned from $600 million at the start of the year to a peak of nearly $10 billion a few weeks ago, according to DeFi Pulse.
- Crypto.com has also launched two decentralized data feeds for its native CRO token against U.S. dollars and ether (ETH) ahead of what it said was a "deeper integration into the rapidly growing DeFi ecosystem."
- Mirroring Binance, Crypto.com launched a swap product last week where users can exchange tokens and where liquidity providers can earn yields by depositing digital assets into token pools.
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