Crypto.com, the payments and cryptocurrency platform, is adding Chainlink’s price feeds to its decentralized finance (DeFi) wallet as it begins expansion into the booming space.
Eric Anziani, the Chief Operating Officer of Crypto.com, said:
“I would say with the partnership with Chainlink is kind of our first integration with a DeFi protocol, it brings value to our customers in terms of providing transparency in the prices that we’re giving them in our DeFi wallet and also making sure our ecosystem token CRO can be integrated into the external protocol by building a price feed for CRO specifically thanks to the Chainlink architecture.”
It has been reported that the first trading pair that will receive a decentralized price feed is CRO/ETH, which will be followed by CRO/USD.
However, Anziani said that the company is starting with DeFi tokens, but in the future, it plans to use Chainlink’s price feeds for all the tokens in its ecosystem.
Crypto trading, finance & payment platform @cryptocom is now using #Chainlink's Price Reference Data directly in their DeFi wallet. They will also be consuming two price feeds for their native asset CRO, to improve their platform's decentralization and transparency. — Chainlink – Official Channel (@chainlink) September 14, 2020
According to him, the expansion into the DeFi space is not driven by the desire to capitalize on the hype, but rather by the fundamental belief that every human being has an inherent right to control their finances, data, and identity.
He said:
“We are a very strong believer that blockchain tech and DeFi, in particular, can potentially empower millions to exercise this right, the right to have the control over their money. And we’ve embarked as a company on a mission of building a full ecosystem to make sure Blockchain tech is adopted and used.”
By discussing the recent controversy around leading exchanges listing the hyped SUSHI token, Anziani said that in his opinion, Crypto.com customers trust it to do its due diligence prior to listing a new asset.
https://t.co/vCNztABJoG partners with @Chainlink to power #CRO Defi Roadmap: ✔️ Chainlink’s price oracles integrated with https://t.co/vCNztABJoG DeFi Wallet ✔️ First #CRO Decentralized Price Reference Data: $CRO/ $ETH & $CRO/ $USD Details – https://t.co/8HT0HAkwiI pic.twitter.com/3XiiAoAnz0 — Crypto.com (@cryptocom) September 14, 2020
Thus, the company stated:
“We were aware of the project and when we looked at it, we felt it was not the right time.”
Source: Cointelegraph | Image: Crypto.com