plasma Teams Up with Chainlink for Stablecoin Growth
Plasma, a layer-1 blockchain for stablecoins, has partnered with Chainlink to enhance its network. This move aims to boost stablecoin development and adoption.
By joining the Chainlink Scale program, Plasma gains access to Chainlink’s oracle solutions. These tools, like cross-Chain Interoperability Protocol (CCIP) and Data Feeds, will support developers 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, partly due to CCIP and Data Feeds.
Johann Eid, Chainlink Labs’ chief business officer, saeid, “Plasma is showing how new layer 1 networks can launch with top-tier stablecoin infrastructure.”
With $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 adoption in DeFi is notable. The platform secures over $100 billion in value. major institutions like SWIFT and UBS are integrating with Chainlink.
Other crypto platforms,such as Aave,GMX,and Lido,also use Chainlink. This collaboration will likely bring more integrations to Plasma’s network.
