Cryptocurrency exchange Coinbase has launched a partnership with platform Chainlink.
This collaboration will see Coinbase use Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as the exclusive bridging solution for all Coinbase Wrapped Assets, allowing cross-chain transfers and expansion, the companies said in a news release Thursday (Dec. 11).
Those assets, which include cbBTC, cbETH, cbDOGE, cbLTC, cbADA, and cbXRP, have an aggregate market cap of around $7 billion, according to the release.
“Chainlink operates battle-tested infrastructure and has a track record of securing tens of billions of dollars,” the companies said.
“Chainlink CCIP leverages the same decentralized oracle networks that secure over 70% of DeFi globally and has enabled more than $27 trillion in transaction volume,” the release added, in reference to “decentralized finance.”
The release goes on to say that Chainlink CCIP offers an established foundation for connecting Coinbase Wrapped Assets across ecosystems. With Chainlink CCIP as sole bridging provider, Coinbase Wrapped Assets are poised to enjoy a substantial expansion.
Read more: pymnts.com
Source: CRYPTO WORLD NETWORK NEWS
