In a major development, Chainlink will bring foreign exchange data rates from the top notch Korean banks, in order to develop their platform.
Earlier Centerprime had access to the Korean Banks which streamed data from various central banks. A press release from centerprime said that the integration is a major breakthrough for the Korean fitech industry.
“This integration with Chainlink marks a major breakthrough for the Korean fintech industry. For the first time in history, applications will be able to access decentralized foreign exchange rates compiled by the best banks in Korea.”
Chainlink founder Sergey Nazarov said that banks can participate in the smart contract revolution and Blockchain.
“I think banks can participate in the smart contract revolution and Blockchain. And then how they’re going to reinvent the global financial system is by the providing of various data, the providing of various services to these financial products.”
In the recent past, South Korea emerged as one of the most advanced economies. Tech heavyweights Samsung and LG belong from the country. It also has the highest rate of crypto adaptation in the world.
The access to decentralized data will expand DeFi use case base.