Leading crypto project Chainlink has announced an integration with Coinbase to bring its premium exchange market data directly onto blockchain networks for the first time. The Coinbase exchange data, which represents billions of dollars in trading volume, will be available on-chain as Coinbase moves to expand access to institutional-grade pricing information across the DeFi markets.
According to the announcement, protocols can now access premium datasets that include order book data, spot prices, perpetual futures information, tokenized RWAs, synthetic assets, and additional datasets from the Coinbase derivatives exchange, among others.
Johann Eid, Chief Business Officer at Chainlink Labs, mentions that bringing Coinbase exchange data on-chain via Chainlink highlights a broader shift in financial infrastructure. He also noted that delivering institutional-grade data to blockchain reinforces the need for high-security standards. It also lays the groundwork for programmable markets, advances tokenization, and drives closer integration between institutional finance and decentralized finance. The development comes a month after the San Francisco-based exchange launched a prediction platform on X.
A Significant Milestone For Coinbase
According to the announcement, Coinbase has hit a milestone as it joins world-leading organizations like S&P Global Ratings, FTSE Russell, Tradeweb, Deutsche Börse, and more in leveraging the Chainlink data standard to bring their institutional-grade data on-chain to thousands of applications.
The integration also marks a major milestone for the DeFi market, as Chainlink’s reputable infrastructure will now serve as a gateway to enterprise-level data, reducing the intricacies of data delivery, security, and decentralization. Additionally, developers can now ship products at scale smoothly without having to deal with critical data infrastructure and management.
Speaking on Chainlink’s reliability as an industry-standard oracle platform for data interoperability, compliance, and privacy, Liz Martin, Vice President of Coinbase Markets, said the company is excited to adopt Datalink to publish its exchange data on-chain while expanding its existing Chainlink integration.
Temitope Olajide
Evans Kelvin
