Chainlink and ICE Collaborate to Bring High-Quality Forex and Precious Metals Data Onchain

Chainlink and ICE collaborate to integrate high-quality FX and precious metals data from ICE Consolidated Feed into Chainlink Data Streams, marking a significant milestone in the mainstream adoption of onchain finance. The partnership aims to bring institutional-grade data to the onchain economy, unlocking a new class of applications and enabling the tokenization of $30.1 trillion in assets.

Chainlink and Intercontinental Exchange (ICE) have announced a significant collaboration to integrate high-quality foreign exchange (FX) and precious metals data from ICE's Consolidated Feed into Chainlink Data Streams. This partnership aims to bring institutional-grade data to the onchain economy, marking a significant milestone in the mainstream adoption of onchain finance [1].

The collaboration will make secure, real-time FX and precious metals data available to over 2,000 Chainlink-powered applications, banks, asset managers, and infrastructure providers, enhancing the reliability of decentralized finance (DeFi) markets [2]. ICE's market data feed, covering multiple currencies and precious metals, will contribute to Chainlink's derived data sets, ensuring tamper-resistant, low-latency data for DeFi and institutional use [3].

"With content from over 300 global exchanges and marketplaces, the ICE Consolidated Feed offers trusted, structured multi-asset class data to banks, asset managers, and ISVs located around the world," said Maurisa Baumann, VP, Global Data Delivery Platforms at ICE. "We're happy to work with Chainlink to securely and reliably provide data for on-chain markets, which is an important step in growing the global blockchain economy" [2].

Fernando Vazquez, President, Capital Markets at Chainlink Labs, emphasized the importance of this collaboration: "Using ICE’s Consolidated Feed data as an input into Chainlink’s derived FX and precious metals rates on-chain via Chainlink’s institutional-grade infrastructure is a watershed moment in the evolution of global markets. This collaboration signals a pivotal shift towards a unified, globally accessible on-chain financial system, with hundreds of trillions in assets on a clear path to tokenization" [2].

The integration of ICE's data into Chainlink Data Streams is expected to enhance the accuracy and reliability of the rates used by DeFi platforms, asset managers, and banks building products on-chain. This move is particularly significant as the market for tokenized real-world assets is projected to reach $30.1 trillion, positioning both companies to capitalize on the growing digital asset market [1].

Chainlink Data Streams deliver high-speed, high-frequency market data off-chain, enabling decentralized applications (dApps) to verify it directly on-chain. Unlike push-based oracles that refresh at fixed times, this pull-based model lets applications fetch and validate data instantly, often in less than a second. The result is secure, real-time pricing for latency-sensitive products such as perpetual futures and tokenized financial instruments [3].

The collaboration between Chainlink and ICE underscores the growing importance of integrating traditional market infrastructure within the blockchain ecosystem. As demand for tokenized real-world assets continues to rise, this partnership is a key step towards the mainstream adoption of onchain finance [3].

References:
[1] https://www.stocktitan.net/news/ICE/chainlink-and-ice-collaborate-to-bring-high-quality-forex-and-ej97ao8385i8.html
[2] https://cryptobriefing.com/chainlink-data-streams-defi/
[3] https://cointelegraph.com/news/chainlink-ice-forex-precious-metals-data-onchain