Hassan Maishera
Chainlink announced via X on Monday that SGX FX, a leading technology partner for the global institutional FX ecosystem, has adopted Chainlink to bring its premium OTC FX market data onchain.
Via Chainlink, SGX FX is unlocking more robust DeFi currency markets powered by the same data underpinning global forex markets. SGX FX is leveraging DataLink, Chainlink’s institutional-grade service, to bring its premium OTC FX trading data onchain.
The initial rollout features spot and 1-month forward rates covering major G10, Asian, and emerging market currency pairs.
This unlocks new use cases across onchain finance, including structured products and hedging workflows, leveraging the same data relied upon by established global FX markets.
Chainlink is the industry-standard oracle platform bringing the capital markets onchain and a market leader powering the majority of decentralized finance (DeFi). Chainlink stands to benefit most from emerging blockchain industry trends, such as stablecoin adoption, real-world asset tokenization, and institutional adoption of blockchain technology.
Chainlink is powered by the LINK token, which is used to pay for platform services and secure the network’s proper functioning. Chainlink leverages a novel fee model where offchain and onchain revenue from enterprise adoption is converted to LINK tokens and stored in a strategic Chainlink Reserve.
Chainlink is at the forefront of financial innovation and the global tokenization trend.
Traditional financial institutions and infrastructure, such as SWIFT, DTCC, Euroclear, J.P. Morgan, Mastercard, the Central Bank of Brazil, UBS, SBI, Fidelity International, ANZ, and many others, are adopting Chainlink as a fundamental infrastructure as they move toward tokenizing trillions onchain. Demand for Chainlink has already generated hundreds of millions of dollars in revenue across a variety of traditional and decentralized use cases.
Chainlink Network (LINK) aims to provide tamper-proof inputs and outputs of data for smart contracts on any blockchain. LINK is up 3.9% over the past 24 hours, trading at $9.80.
