Business News Report Technology
May 01, 2024

Chainlink And Rapid Addition Collaborate To Develop CCIP-Based Blockchain Adapter

In Brief

Chainlink collaborated with Rapid Addition to develop a FIX native adapter tailored for institutional digital asset transactions.

Chainlink And Rapid Addition Collaborate To Develop CCIP-Based Blockchain Adapter

Cryptocurrency and technology platform for external data interaction Chainlink announced its collaboration with Rapid Addition, a provider of financial information exchange (FIX) connection solutions, to develop a FIX native adapter tailored for institutional digital asset transactions.

The adapter will be supported by the Chainlink cross-chain interoperability protocol (CCIP), a protocol in which applications span token transfers, gaming, and decentralized finance (DeFi).

Chainlink’s new collaboration is set to empower banks and financial institutions to communicate and engage with a variety of tokenized assets. The organization perceives this as an “unexplored market opportunity” with potential applications spanning renewable energy products, carbon credits, and real-world assets (RWAs) such as real estate, infrastructure, and collectibles.

FIX serves as the foundation for financial transaction communication. Its message formats adhere to global regulations governing market data and pre- and post-trade transactions. When integrated with Chainlink to facilitate message flows onto and across blockchains, FIX can expedite interoperability with traditional systems and provide a compliant schema for communicating financial market transactions over blockchain networks.

Furthermore, the integration of Chainlink CCIP’s blockchain abstraction APIs and Rapid Addition’s service into an institutional blockchain adapter facilitates the seamless and secure connection of FIX’s industry protocols with smart contracts. This integration opens up new avenues for digital asset trading.

Founded in 2003, Rapid Addition operates as a software solutions provider catering to the global electronic marketplace. Its offerings encompass low-latency FIX and FAST engines.

Chainlink enables connections between traditional ventures and blockchain platforms. It acts as middleware linking blockchain-based smart contracts with external data sources.

Chainlink’s CCIP transitioned into the General Availability (GA) phase last month, granting developers the ability to utilize it for token transfers throughout blockchains without requiring permission. Additionally, it allows the transferring of arbitrary messages to smart contracts on another integrated blockchain, as well as the simultaneous transfer of data and value via CCIP’s support for programmable token transfers.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

Hot Stories
Join Our Newsletter.
Latest News

From Ripple to The Big Green DAO: How Cryptocurrency Projects Contribute to Charity

Let's explore initiatives harnessing the potential of digital currencies for charitable causes.

Know More

AlphaFold 3, Med-Gemini, and others: The Way AI Transforms Healthcare in 2024

AI manifests in various ways in healthcare, from uncovering new genetic correlations to empowering robotic surgical systems ...

Know More
Read More
Read more
Kamino Finance Launches New Jito Market In Kamino Lend To Accelerate JitoSOL Growth
News Report Technology
Kamino Finance Launches New Jito Market In Kamino Lend To Accelerate JitoSOL Growth
November 5, 2024
Arcium Acquires Core Technology And Team From Inpher To Enhance Network Performance And Capabilities
Business News Report Technology
Arcium Acquires Core Technology And Team From Inpher To Enhance Network Performance And Capabilities
November 4, 2024
Gemini Begins ‘Go Where Dollars Won’t’ Campaign, Giving Glimpse Into How Crypto Will Power Our Lives Among The Stars
Business News Report Technology
Gemini Begins ‘Go Where Dollars Won’t’ Campaign, Giving Glimpse Into How Crypto Will Power Our Lives Among The Stars
November 4, 2024
AuditHub by Veridise: A Platform for Transparent & Smart Security Audits Launches
Opinion Business Software Technology
AuditHub by Veridise: A Platform for Transparent & Smart Security Audits Launches
November 4, 2024