Integrating Chainlink’s decentralized price feeds into the Crypto.com Defi Wallet and launching the first CRO Decentralized Reference Data on the Chainlink Network
Today, we are pleased to announce that Crypto.com has successfully integrated Chainlink’s Price Reference Data into the Crypto.com DeFi Wallet on Mainnet to provide decentralized price feeds for DeFi tokens. In addition, Crypto.com will launch the decentralized price reference data feeds first for CRO/ETH and quickly followed by CRO/USD on the Chainlink Network in preparation for a deeper integration into the rapidly growing DeFi ecosystem.
Crypto.com launched its Crypto.com DeFi Wallet earlier this year, giving customers full ownership of their private keys and offering secure and user-friendly access to the decentralized finance ecosystem that will be powered by CRO. The integration of Chainlink’s Price Reference Data brings decentralized price feeds directly into the Crypto.com DeFi Wallet, ensuring users receive highly accurate and transparent prices for DeFi assets held within it.
All Chainlink Price Reference Data are secured by decentralized oracle networks made up of Sybil resistant node operators, most of which are operated by leading blockchain DevOps and security teams that secure millions of dollars in value across numerous other networks. Each node sources data from high quality off-chain data aggregators, which maintain strong volume-adjust market coverage across all trading environments. By aggregating responses from multiple high-quality nodes/data sources, applications have access to highly available, accurate, and manipulation resistant price feeds that are protected against any single point of failure. These price feeds currently secure over $3B in USD value across DeFi.
Kris Marszalek, Co-Founder and CEO of Crypto.com said, “We’re absolutely thrilled to partner with Chainlink to help us execute against our ambitious DeFi roadmap, as we look to rapidly build, deliver and scale the #1 DeFi Wallet powered by CRO. Chainlink will help us decentralize and give our users more control to verify where and how price data is received and used within the Crypto.com DeFi Wallet. This gives our users more control of their money, data and identity without needing to trust a central entity— we believe that it’s not only the future of finance, it’s your basic human right.”
Sergey Nazarov, Co-Founder of Chainlink said, “We are excited to empower Crypto.com with secure and reliable price feeds to help enhance the capabilities of their DeFi wallet. By shifting key financial product processes like calculating interest rates and managing a portfolio to more transparent and decentralized alternatives, users receive even greater guarantees that those services are reflective of true market conditions and not be subject to any form of human tampering. ”
If you’re a developer and want to quickly get your application connected to Chainlink Price Reference Data, visit the developer documentation and join the technical discussion in Discord. If you want to schedule a call to discuss the integration more in-depth, reach out here.
Chainlink is an open-source blockchain abstraction layer for building and running decentralized oracle networks that give your smart contract access to secure and reliable data inputs and outputs. It provides oracles to leading DeFi applications like Synthetix, Aave, and Kyber Network; numerous blockchains such as Ethereum, Polkadot, and Tezos; as well as large enterprises including Google, Oracle, and SWIFT.
Crypto.com was founded in 2016 on a simple belief: it’s a basic human right for everyone to control their money, data and identity. Crypto.com serves over 3 million customers today, providing them with a powerful alternative to traditional financial services through the Crypto.com App, the Crypto.com Card and the Crypto.com Exchange.
Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have ISO/IEC 27701:2019, CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance. Crypto.com is headquartered in Hong Kong with a 500+ strong team. Find out more by visiting https://crypto.com.