Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is the industry standard for cross-chain digital asset and data transfer. Leading DeFi protocols and decentralized exchanges as well as traditional financial institutions are integrating CCIP to unlock new use cases and markets for tokenized assets with unique onchain utility.
Today, Celo, an emerging Ethereum layer-2 and mobile-first blockchain network, announced it natively integrated CCIP as its canonical cross-chain infrastructure to fuel innovation throughout the growing multi-chain ecosystem.
Conceived as a hub for regenerative finance (ReFi), Celo’s protocol is accessible to anyone with a mobile phone and supports an ecosystem of more than 1,000 innovative web3 applications aimed at building a regenerative digital economy. Last year, Celo joined Chainlink SCALE (Sustainable Chainlink Access for Layer 1 and 2 Enablement), a program designed to accelerate the growth of blockchain and layer-2 ecosystems through enhanced access to Chainlink’s oracle services.
Chainlink’s decentralized oracle infrastructure has delivered more than 12 billion data points onchain and enabled over $10.5 trillion in transaction value throughout the web3 economy. As the industry-standard decentralized computing platform, Chainlink provides a comprehensive set of services that are critical for creating and securing tokenized real-world assets throughout their entire life cycle.
CCIP eliminates liquidity silos and unlocks new markets and use cases for tokenized assets by allowing them to flow freely between private and public blockchains. Leveraging Chainlink’s time-tested oracle infrastructure and a separate Risk Management Network that independently monitors cross-chain functions for suspicious activity, CCIP achieves the highest level of cross-chain security.
“Secure interoperability powered by CCIP will empower Celo developers and users to take full advantage of the multi-chain landscape and accelerate the adoption of Celo and its ecosystem,” said Thodoris Karakostas, Head of Blockchain Partnerships at Chainlink Labs, in an official announcement.
“Canonical cross-chain infrastructure can accelerate the long-term growth and adoption of the Celo ecosystem,” said Eric Nakagawa, Executive Director at the Celo Foundation. “As the only interoperability solution achieving level 5 cross-chain security, CCIP provides a great option for developers, founders, and the wider community to consider and adopt.”
To learn more about Celo, visit their website, X, Discord, GitHub, and Medium.