A leading multinational firm working in digital assets services and framework, Amber Group, joined hands with Chainlink, a well-known name in the decentralized oracle network. The goal is to provide sound and safe asset transaction pricing facilities, particularly to the growing target market of institutional clients in Asia, Europe, and North America.
Amber Group will employ Chainlink Price Feeds‘ services to strengthen its ability to aggregate digital asset services and provide high-quality financial market data to its digital asset platform WhaleFin.
Chainlink is a well-known brand in the industry for developing, accessing, and selling Oracle services that help hybrid smart contracts on any blockchain. In the DeFi, gaming, insurance, and other sectors, Chainlink secures tens of billions of dollars.
Motives Of Amber Group Merger With Chainlink
The merger commenced coping with the rising worldwide acceptance of DeFi, which resulted in network overload and expandability issues. These issues produced challenges, like increased network durability, safety concerns, and expensive network transaction fees.
A decentralized oracle network provides minor contracts with secure and dependable access to external data, IoT devices, payment systems, online APIs, and many other services. Amber Group will benefit from Chainlink’s access to asset data through real-world market prices. In addition, Amber Group clients can now access more correct transaction pricing services and off-chain and on-chain integrated payment facilities for blockchain space due to the recent merge.
Thomas Zu, working as Chief Technology Officer at Amber Group, said,
We are proud to integrate Chainlink, the industry-leading blockchain oracle solution. The Chainlink integration provides Amber Group with access to secure financial market data which will help unlock more blockchain innovations that are interoperable with more traditional infrastructure. As Amber Group continues to expand its global footprint, this will effectively help increase our capacity to accelerate our product and service innovation to meet the dynamic demands of our customers better
The merger will undoubtedly assist in introducing more value and competitive NFT rarity services, providing Amber Group with new customer liaison routes in the target markets. In addition, the merger with Chainlink can assist Amber Group in offering facilities of off-chain and on-chain integrated payment solutions to many commercial firms in the financial market, including the retail industry, internet industry, logistics, manufacturing industry, and financial industry.
Tomasz Wojewoda, Head of Global Sales at Chainlink Labs, stated,
It is an exciting time for us as we support Amber Group in its next phase of growth. We are looking forward to a long and successful integration that helps Amber Group accelerate the mass adoption of digital assets supported by Chainlink’s expanding collection of trust-minimized services
Amber Group is a well-known multinational specializing in digital asset solutions and frameworks, having offices in the United States, Europe, and Asia. The company offers various digital asset services, such as trading, financing, and investing. Tiger Global, Pantera, Paradigm, Temasek, Sequoia, Coinbase Ventures, Dragonfly, and Blockchain.com are among the notable financial backers of Amber Group.
Featured Image from Pixabay and price chart from tradingview.com