Nasdaq-Listed Streamex Taps Chainlink to Power GLDY Stablecoin

Streamex partners with Chainlink to secure its GLDY stablecoin. This integration adds Proof of Reserve and cross-chain functionality.

Streamex Corp., a Nasdaq-listed firm, has formed a strategic partnership. The company chose Chainlink (LINK) as its official oracle provider. The partnership will help increase transparency and reliability for its gold-backed stablecoin, GLDY. This new approach is aimed at institutional investors all over the world. The platform aims to increase trust in its regulated digital asset.

GLDY Gains Proof of Reserve and Cross-Chain Support via Chainlink

Streamex is a tokenization platform for real-world commodities. Specifically, its flagship coin GLDY is backed by physical gold reserves. Additionally, GLDY is a regulated digital yield-bearing asset. This new alliance is expected to provide maximum clarity to the asset. The integration is important in bringing in nervous institutional money.

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As such, the Chainlink data standard is integrated directly into Streamex. This process is leveraging the Proof of Reserve (PoR) component. PoR provides an on-chain, real-time proof of the backing of GLDY by gold. Besides, the company continuously integrates Price Feeds. These feeds reliably provide tamper-proof market data.

Moreover, the collaboration has now been extended to cross-chain interoperability. Streamex uses the Chainlink interoperability standard through CCIP. In particular, this integration covers the Base and Solana mainnets initially. The aim is to make GLDY easily transferable between major blockchains. Thus, this makes the liquidity and accessibility of the institutions at a great level.

In addition, the Cross-Chain Token (CCT) standard is also employed by the company. CCTs provide the developers with full control and ownership. They allow an easy self-serve deployment. Furthermore, this standard enables improved token programmability in the present. Most importantly, it always handles chain-to-chain transfers with zero slippage perfectly.

Streamex chose CCIP based on its strong security architecture in general. The protocol applies a defense-in-depth security concept all the time. Consequently, Chainlink Decentralized Oracle Network (DON) is used as the security for CCIP. This network has almost $100 billion of DeFi TVL. Therefore, it offers industry-leading reliability and security.

CCT and CCIP Integration Sets New Standard for Gold Tokenization

Henry McPhie, Co-Founder & CEO of Streamex, praised the integration. He said this is a significant step towards achieving their mission. The objective is to ensure the continuous transfer of existing assets on-chain reliably. The maximum transparency and reliability are realized through Chainlink by GLDY. Finally, this brings institutional trust with the help of blockchain technology.

In addition, CCTs are free from token logic and flexible. Pre-audited token pool contracts are easily deployed by developers. This makes any ERC20-compatible token a CCT with relative ease. Specifically, configurable rate limits are available in CCTs’ pools. The latter offers good security functions. They also contain reliability features such as Smart Execution.

In addition, CCIP is a new programming token transfer protocol with high performance. The protocol passes value as well as data commands directly. This provides the receiving smart contract with information on the next steps to be taken. Thus, complex actions are condensed to a very small degree due to cross-chain programmability. Multiple chains, users, and assets are reduced to one atomic instruction.

The partnership is a very strategic one for Streamex as a whole. It makes asset management easy for the institutional client directly. The integration brings token issuance and collateral verification together in a secure manner. In addition, it links Streamex directly to the large Chainlink ecosystem. Thus, this presents great growth potential for the adoption of GLDY.

This move further establishes GLDY’s position in the regulated Real-World Asset (RWA) space. The dual integration of PoR and CCIP, PoRCCIP, is a new standard for gold tokenization. Therefore, the attention thus moves to institutional uptake.

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