Galaxy, Chainlink Bring Market Data To Blockchains
Galaxy's market data will be distributed directly to applications running across various blockchains
NEW YORK and SAN FRANCISCO, Sept. 27, 2022 /CNW/ - Galaxy Digital Holdings Ltd. (TSX: GLXY) ("Galaxy") a financial services and investment management innovator in the digital asset, cryptocurrency, and blockchain technology sectors, today announced that it is providing crypto pricing data to blockchains through Chainlink's industry-leading oracle network.
Chainlink makes application programming interfaces (APIs) easily compatible, accessible, and monetizable within any blockchain. By collaborating with Chainlink, Galaxy's crypto pricing data will be distributed directly to applications running across various blockchains, such asthose operating in the decentralized finance (DeFi) space. Galaxy's data consists of spot crypto prices including bitcoin, ether, and other cryptocurrencies in various currency pairs, including dollars.
"Our extensive market data, which will be available through Chainlink's blockchain-agnostic architecture, will be an important tool in enabling smart contract developers to build advanced blockchain applications," said Zane Glauber, Head of Strategic Opportunities at Galaxy. "We're excited to integrate with Chainlink as part of our broader efforts to build a deep, diverse crypto ecosystem."
This work with Chainlink is a continuation of Galaxy's ongoing mission to support builders and creators within the crypto economy. Blockchain innovations continue to grow in popularity, with segments such as DeFi more than tripling in total value since 2020.
"High-quality market data underpins the DeFi economy," said Yaser Jazouane, Head of Data Products at Chainlink Labs. "By providing high-quality pricing data to blockchains through the Chainlink Network, Galaxy is playing a valuable role in unlocking exciting new use cases and driving innovation across the DeFi ecosystem."
For a glossary of crypto terms, please visit www.galaxy.com/glossary.
Galaxy (TSX: GLXY) is a digital asset and blockchain leader providing institutions, startups, and qualified individuals access to the crypto economy. Our full suite of financial services is custom-made for a digitally native ecosystem, spanning multiple synergistic business lines: Trading, Asset Management, Investment Banking, Mining, and Ventures.
Galaxy's CEO and Founder Michael Novogratz leads a team of crypto enthusiasts and institutional veterans working together on a mission to engineer a new economic paradigm. The Company is headquartered in New York City, with offices in Chicago, New Jersey, London, Amsterdam, Hong Kong, Tokyo, and the Cayman Islands (reg. office).
Additional information about Galaxy's businesses and products is available on www.galaxy.com
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
SOURCE Galaxy Digital Holdings Ltd.