Fireblocks and Chainlink Labs join forces for stablecoin solutions
Revealed on 17 September, the collaboration will offer a comprehensive solution encompassing minting, custody, and distribution, enhancing tokenisation capabilities and transparency.
Fireblocks and Chainlink Labs have announced a new partnership aimed at helping banks issue and manage regulated stablecoins. The collaboration, revealed in a press release on 17 September, will provide a comprehensive solution for stablecoin issuers, covering everything from minting and custody to distribution. The strategic alliance enhances tokenisation capabilities and offers a real-time view of stablecoin reserves, market value, and total supply across various blockchains.
Angie Walker, Chainlink Labs’ global head of banking and capital markets, highlighted that this partnership will not only improve transparency for stablecoin users but also enhance the stablecoin’s role as a secure payment method and trading tool in digital asset markets. Although the specific banks involved in issuing stablecoins have not yet been disclosed, both companies previously supported Wenia, a division of Colombia’s largest bank, Bancolombia, in launching its COPW stablecoin.
The collaboration comes amid growing interest in stablecoins, which settled $3.7 trillion in transactions in 2023 and are projected to reach $5.28 trillion by 2024. According to a recent survey by Castle Island Ventures and Brevan Howard Digital, stablecoins are increasingly being used as a general-purpose digital dollar rather than just trading collateral.
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