As the standard for onchain finance, verifiable data, and cross-chain interoperability, Chainlink’s comprehensive web3 services support a growing spectrum of tokenized real-world asset and stablecoin issuers, including leading DeFi protocols such as Paxos and StablR, as well as some of the world’s largest financial institutions such as ANZ and Fidelity International.
This week, Cap, a decentralized stablecoin protocol for covered yield at scale, announced it integrated Chainlink Price Feeds on Ethereum mainnet to help secure the minting mechanism for its interest-bearing stablecoin, cUSD.
Cap enables institutions and onchain actors to mint cUSD with USDT and USDC. Whitelisted institutional operators can borrow cUSD’s underlying collateral and perform yield strategies, secured by ETH and stETH delegations from restakers.
Leveraging Chainlink’s time-tested infrastructure, Price Feeds have enabled over $20 trillion in transaction value, even during adverse and unexpected events such as flash loan attacks. Access to the ETH/USD Price Feed allows Cap to accurately price ETH and stETH-based restaking delegations that secure operator activity, increasing user confidence in the minting and solvency of cUSD during any and all market conditions.
“Chainlink Price Feeds provide the secure and reliable data backbone Cap needs to support institutional-grade stablecoin infrastructure,” said Cap’s founder, Benjamin.lens, in an official announcement. “Through the use of the Chainlink standard, we will help advance institutional adoption of blockchain technologies.”
To learn more about Cap, visit their website, X, and Discord.