- Circle and Chainlink have partnered to enhance the utility of USDC and EURC for developers.
- This collaboration aims to bolster the creation of financial applications and the growth of DeFi.
- Sandra Persing, VP of Product, Developer and Ecosystem Marketing at Circle, expressed her excitement about the partnership.
Circle and Chainlink join forces to enhance USDC and EURC utility, aiming to revolutionize financial app development and DeFi growth.
Chainlink Partners with Circle
Circle, the issuer of USDC and EURC stablecoins, has partnered with Chainlink, a decentralized oracle network. This collaboration integrates Circle’s Programmable Wallets with Chainlink services, including Data Feeds and Proof of Reserve, to provide developers with the tools necessary to incorporate stablecoins into their applications.
Enhancing Developer Capabilities
This partnership is designed to provide a robust foundation and guidance for developers, enabling them to build more secure and efficient DeFi applications. Sandra Persing highlighted the significance of this collaboration, stating, “We are going to give the tools to developers so that they can design the future of financial services in collaboration with Chainlink.”
Circle Expands to Brazil
In addition to its partnership with Chainlink, Circle has announced its expansion into the Brazilian market through a collaboration with Nubank, a leading fintech company in the country. This move aims to increase the accessibility of digital dollars in Brazil, ensuring the 24/7 availability of USDC for both retail and institutional markets.
Strategic Partnerships in Brazil
Circle’s expansion includes partnerships with prominent Brazilian financial institutions such as BTG Pactual. Jeremy Allaire, co-founder and CEO of Circle, expressed his enthusiasm, stating that this expansion could revolutionize the Brazilian financial landscape by making it easier for people to engage in the global economic system. These partnerships are expected to enhance the liquidity and flexibility of USDC within the Brazilian market.
Will the LINK Price Rally?
Meanwhile, the price of Chainlink (LINK) has experienced a bearish trend over the past 24 hours, fluctuating between an intra-day high of $19.16 and a low of $18.06. As of press time, LINK was trading at $18.30, marking a 2.80% decline from its intra-day high.
Market Performance
During this period, LINK’s market capitalization and 24-hour trading volume decreased by 2.41% and 17.23%, respectively, to $10,743,010,047 and $523,064,670. Additionally, LINK’s open interest declined by 5.31% to $258.10M, reflecting the overall market sentiment.
Conclusion
The partnership between Circle and Chainlink is set to significantly enhance the utility of USDC and EURC for developers, fostering the growth of financial applications and DeFi. Circle’s expansion into Brazil through strategic partnerships aims to revolutionize the financial landscape by increasing the accessibility and liquidity of digital currencies. Despite recent market fluctuations, the long-term outlook for LINK remains optimistic as the collaboration with Circle is expected to drive further innovation and adoption in the DeFi space.
