Today, Fireblocks, a user-friendly platform for building blockchain-based products and managing digital asset operations, announced a strategic collaboration with Chainlink Labs, the primary contributing developer of Chainlink, to provide financial institutions with a secure, compliant, end-to-end technology solution for issuing regulated stablecoins.
As the industry-standard decentralized computing platform, Chainlink has enabled over $15 trillion in transaction value throughout the web3 economy and provides a comprehensive suite of oracle services that are critical for creating and securing tokenized real-world assets and stablecoins capable of scaling onchain finance to billions of users.
Earlier this year, Wenia, a new digital asset company from Bancolombia Group, one of the largest financial conglomerates in Latin America, utilized Fireblocks and Chainlink services to launch its COPW stablecoin. Specifically, Chainlink Proof of Reserve (PoR) provides a fully transparent view of the Colombian peso reserves backing COPW.
“It is great to see Fireblocks and Chainlink, two of our COPW launch partners, collaborate to further enhance the usability of regulated stablecoins,” said Wenia CEO, Pablo Arboleda, in an official announcement. “By combining top-tier technology solutions with secure and reliable infrastructure, they are creating a win-win for the industry and advancing the adoption of digital assets in a more inclusive, efficient, and accessible manner.”
The integrated solution will provide issuing agents with an unprecedented real-time view of stablecoins, reserves, market value and total supply that sets a new industry standard for issuing and transacting with stablecoins throughout the expanding multi-chain economy.
Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs, described the synergy between Fireblocks and Chainlink as a powerful force in accelerating the global adoption of tokenized assets and stablecoins.
“We expect this will not only provide stablecoin users with real-time visibility into asset reserves but also elevate the utility of the stablecoin as a secure payment vehicle and institutional trading instrument in digital asset markets,” she said. “We plan to empower stablecoin issuers by offering a secure, smart, and scalable solution that meets the high standards for institutional and retail customers alike.”
“Stablecoins are driving innovation in financial markets, and issuers need a comprehensive solution – from reserves to issuance, distribution, custody, and compliance – that offers full visibility, including across multiple chains,” said Stephen Richardson, Managing Director, Financial Markets at Fireblocks. “By working with Chainlink, we are uniquely positioned to meet these critical market needs for large-scale stablecoin adoption.”