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Plasma Partners with Chainlink to Boost Ecosystem Adoption

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Highlights:

Plasma partners with Chainlink to boost its stablecoin infrastructure options.
Plasma also named Chainlink as its official oracle provider.
The integration allows Plasma developers to access Chainlink’s features, including its Data Feeds and CCIP.

Plasma, a new layer-1 blockchain designed specifically for stablecoins, has officially joined the Chainlink Scale program. Chainlink announced the integration in a press release on October 3, adding that Plasma also named Chainlink its official oracle provider. The move brings Chainlink’s data and interoperability standards into Plasma’s ecosystem, expanding its stablecoin payments network.

Chainlink will also make its Data Streams, Data Feeds, and the Cross-Chain Interoperability Protocol (CCIP) accessible to Plasma developers. Aave, one of the world’s leading liquidity protocols, is already deployed on Plasma, underscoring the blockchain’s growing prominence.

Meanwhile, the integration comes a few days after the launch of Plasma’s mainnet beta and native token, XPL, on September 25. Crypto2Community reported that XPL will launch as one of the largest blockchains by stablecoin liquidity.

Plasma Unique Features

Since its launch, Plasma has emerged as a leading stablecoin platform, with over $2 billion in stablecoin liquidity. It also possesses native EVM compatibility, making it easy for developers to build applications for remittances, cross-border transfers, micropayments, and other related transactions.

Unlike most blockchains designed for general use, the Plasma development model focuses mainly on stablecoin activity, offering zero-fee transfers and customizable gas tokens. Users can also benefit from confidential payments and high throughput for global-scale transactions.

Paul Faecks, Plasma’s Founder and Chief Executive Officer (CEO), emphasized the important roles of stablecoins in the crypto industry, adding that Plasma aims to build a robust system that supports these tokens, enabling users to transact digitally without needing a bank.

On Plasma’s collaboration with Chainlink, Paul stated:

“With Chainlink, Plasma can scale our on-chain ecosystem, strengthen our stablecoin rails, and bring mainstream adoption closer to reality.”

Chainlink and Aave will Expand Plasma’s Stablecoin Infrastructure

By incorporating Chainlink Data Feeds, Plasma will gain easy access to tamper-resistant price data, which supports stablecoin trading, lending, borrowing, liquidity pools, and derivatives. Similarly, CCIP introduces features that permit secure stablecoin transfers and messaging across blockchains on the Plasma platform.

CCIP also offers compliance features, including token attestation, policy enforcement, and multi-oracle validation for institutional-grade security. On its part, Aave has already secured over 70% of all stablecoin liquidity across lending markets. Hence, it introduces scale and liquidity, making it ideal for expanding Plasma’s stablecoin infrastructure.

Top Executives React as Plasma Partners with Chainlink

Johann Eid, Chainlink Labs’ Chief Business Officer, praised Plasma for launching with fully equipped, high-level, and business-ready stablecoin infrastructures. He also highlighted the significance of Chainlink and Aave in helping Plasma attain its current height. “Plasma is positioned to lead in building the next generation of stablecoin and on-chain payment applications,” Eid added.

Stani Kulechov, Aave Labs’ founder and CEO, also reacted to the partnership. He stated that Chainlink’s integration will transform Plasma into a high-throughput network that can attract developers to start building stablecoin apps.

Kulechov added:

“Together we unlock instant, low-cost stablecoin movement and secure cross-chain connectivity for real-time payments and next-generation on-chain finance,”