Hassan Maishera
Chainlink announced via X on Wednesday that Crypto Finance, a provider of professional digital asset solutions for institutional clients and part of Deutsche Börse, has adopted the Chainlink standard live in production.
Chainlink Proof of Reserve now enables direct verification of assets custodied by Crypto Finance for nxtAssets’ physically backed Ethereum and Bitcoin Direct exchange-traded products (ETPs), with reserve data orchestrated by the Chainlink Runtime Environment (CRE) and published on Arbitrum.
The integration of Chainlink’s Proof of Reserves provides multiple benefits: greater transparency compared to traditional reporting cycles, enhanced security through aggregated and anonymized reserve verification, and historical data access at any point in time.
Chainlink Network (LINK) aims to provide tamper-proof inputs and outputs of data for smart contracts on any blockchain. LINK is down 1.7% over the past 24 hours and is trading at $21.24 at press time.
