The integration comes amid increased global adoption of DeFi, which has led to scalability and network congestion issues. These issues have resulted in challenges in the form of high network transaction fees, higher asset liquidity risk and growing concerns around network security and resilience. As a decentralized oracle network that provides smart contracts with secure and reliable access to external data, web APIs, IoT devices and payment systems, and more, Chainlink will enable Amber Group to access data regarding the real-world market prices of assets. Supported by this integration, Amber Group customers can now gain access to more accurate transaction pricing services as well as on-chain and off-chain integrated payment services for the blockchain industry.
"We are proud to integrate Chainlink, the industry-leading blockchain oracle solution. The Chainlink integration provides Amber Group with access to secure financial market data which will help unlock more blockchain innovations that are interoperable with more traditional infrastructure. As Amber Group continues to expand its global footprint, this will effectively help increase our capacity to accelerate our product and service innovation to better meet the dynamic demands of our customers," said Thomas Zu, Chief Technology Officer at Amber Group.
The integration will help facilitate more valuable and competitive NFT rarity services too, creating new avenues for business growth and customer touchpoints for Amber Group in these markets. This integration with Chainlink can help Amber Group provide on-chain and off-chain integrated payment services to various commercial institutions in the financial industry, manufacturing industry, Internet industry, retail industry, and logistics industry, etc.
"It is an exciting time for us as we support Amber Group in its next phase of growth. We are looking forward to a long and successful integration that helps enable Amber Group to accelerate the mass adoption of digital assets supported by Chainlink's expanding collection of trust-minimized services," said Tomasz Wojewoda, Head of Global Sales at Chainlink Labs.
About Amber Group
Amber Group is a global leader in digital assets products and infrastructure with offices in Asia, Europe, and the Americas. The firm provides a full range of digital asset services spanning investing, financing, and trading. Amber Group is backed by prominent investors including Sequoia, Temasek, Paradigm, Tiger Global, Dragonfly, Pantera, Coinbase Ventures, and Blockchain.com.