Chainlink to Start Supplying Data for Crypto.com's DeFi Wallet
The new integration will provide users of Crypto.com's DeFi wallet with access to accurate and untampered price data, ChainLink said.
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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