As the standard for onchain finance, Chainlink’s comprehensive web3 services support a growing spectrum of tokenized real-world asset (RWA) 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, synthetic dollar protocol Falcon Finance integrated Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and Proof of Reserve across BNB Chain and Ethereum to enhance the transparency and interoperability of its $540M+ market cap stablecoin, USDf.
CCIP leverages Chainlink’s time-tested oracle infrastructure, which has enabled over $22 trillion in transaction value, to achieve the highest level of cross-chain security reinforced by a separate Risk Management Network. The Cross-Chain Token (CCT) standard allows developers on supported blockchains to turn any ERC-20-compatible token into a CCT with additional security and reliability benefits such as configurable rate limits, self-serve deployments, and zero-slippage transfers.
Proof of Reserve uses the same battle-tested Chainlink oracles to provide real-time updates for reserves backing digital assets with superior transparency and reliability compared to annual statutory audits, interim audits, and monthly proof of reserves. Falcon Finance is adopting Proof of Reserve to enable real-time, automated audits that publicly verify USDf remains fully overcollateralized and protect against offchain fraud and fractional reserve risks.
“Adopting the Chainlink standard is a major step forward for Falcon Finance,” said Andrei Grachev, Managing Partner at Falcon Finance, in an official announcement. “CCIP expands USDf’s reach across chains, while Proof of Reserve brings the transparency needed to build trust and scale adoption.”
“We’re pleased to see Falcon Finance using the Chainlink interoperability and verifiable data standards to power its stablecoin protocol,” added Jordan Calinoff, Head of Stablecoins and RWA at Chainlink Labs. “Connecting Falcon Finance to Chainlink’s wider ecosystem will help accelerate the adoption of USDf across the onchain economy.”
To learn more about Falcon Finance, visit their website, X, and Discord.