TL;DR
- Rapid Addition and Chainlink are developing a native blockchain FIX adapter for the traditional finance sector.
- Their goal is to facilitate banks’ access to the digital asset market, ensuring a secure and seamless integration.
- This new tool will prevent banks and other institutions from having to duplicate their systems and controls.
Rapid Addition and Chainlink are working together on the development of a native blockchain FIX adapter, paving the way for institutional finance. Their aim is to facilitate access for banks and other financial institutions to digital assets through secure and efficient integration with blockchain technology.
Rapid Addition is a renowned provider of FIX connectivity solutions in financial markets. It has teamed up with Chainlink to develop a native FIX blockchain adapter for institutional digital asset trading. This will allow financial institutions to interact with a wide range of tokenized assets, from carbon and renewable energy to real estate and collectibles.
#Chainlink and @RapidAddition are building a CCIP-based blockchain adapter compatible with the @FIXTrading protocol, the trade communications standard for global financial markets.
How this development will unlock digital asset trading for institutions: https://t.co/lSg0DdVsR8
— Chainlink (@chainlink) May 1, 2024
They aim to provide a secure and seamless interface between traditional financial systems and blockchain technology. Allowing financial institutions to use their existing infrastructure to participate in the digital asset market without the need to duplicate systems and controls.
Chainlink Works Hard on Tokenized Asset Adoption
Mike Powell, CEO of Rapid Addition, stated that this new capability means that their clients will benefit from a smooth and secure integration into blockchain-based platforms. The firm is focused on providing its users with access to liquidity and post-trade services regardless of the underlying technology.
Meanwhile, Vince Turcotte, Business Development Lead for Asia Pacific at Chainlink Labs, pointed out that the combination of Chainlink’s CCIP with Rapid Addition’s FIX platform reduces technical barriers to entry into new trading markets, participants in buying and selling, and brokers for digital assets.
The collaboration between Rapid Addition and Chainlink opens up new possibilities for financial institutions. The new tools will facilitate their entry into the digital asset market, ensuring a secure and seamless interface between traditional financial systems and blockchain technology. The alliance itself represents an excellent opportunity to promote the use of blockchain, enhancing its mass adoption among those still clinging to traditional finance.
