New Change FX Announces Integration with Chainlink

New Change FX, an award winning fintech company, has revealed its intention to provide  benchmark data to DeFi through the Chainlink Labs Network.

Blockchains will be able to access premium market data associated with roughly 2,300 currency pairs.

Using Chainlink’s large collection of secure node operators, smart contract developers can access NCFX’s live, regulated, independent benchmark and reference data and analytics directly on-chain when building applications and products in Decentralized Finance (DeFi)—a new parallel financial system running on top blockchains (on-chain) that provide transparent, openly accessible, and decentralized financial instruments.

“The decision to transition to a blockchain data provider on the Chainlink Network should come as no surprise as DeFi markets are quickly expanding in value. Most DeFi products require high-quality financial data, and Chainlink is the industry leading oracle provider to DeFi. Getting our existing suite of APIs blockchain-enabled through Chainlink was quick and easy, requiring no changes to our existing API infrastructure. Thus, we are able to expose our data to emerging DeFi markets and support their growth, while also increasing our revenue as a data provider”, the Company stated in the announcement.

”Developers will be able to use the Chainlink Network to access our FX benchmark and reference rates and transaction cost analytics for traditional markets, precious metals, and crypto assets. We envision our data being used across decentralized finance (DeFi) applications to trigger actions within on-chain financial products like derivatives contracts, lending pools, insurance products, algorithmic stablecoins, automated trading strategies, and much more.“