Top-tier Institutions Choose This Altcoin! Following the US Department of Commerce and Polymarket, a Partnership with a Major Bank Has Been Announced!

In recent weeks, the US Department of Commerce announced that macroeconomic data will be transferred to many blockchain networks via oracle providers Chainlink ($LINK) and Pyth.

Following the US Department of Commerce, Polymarket also announced its partnership with Chainlink.

As institutional interest in Chainlink continues to grow, news of another partnership has arrived.

According to the official announcement, Saudi Arabia's Awwal Bank has partnered with Chainlink.

Awwal Bank, a major Saudi Arabian bank with over $100 billion in assets under management, announced that it will use Chainlink services to deploy on-chain applications within the country.

This partnership will allow Awwal Bank developers to utilize Chainlink’s Cross-Chain Interaction Protocol (CCIP) and runtime environment for their development work.

The partnership aims to integrate Chainlink's oracle technology into Awwal Bank's systems to enable real-time data verification and secure smart contract execution. This move is expected to increase transparency, reduce fraud, and streamline the bank's back-office operations.

With this partnership, Awwal Bank stated that Chainlink could set an example for other financial institutions in the region and further increase the demand for the $LINK token.

$LINK, which has gained nearly 120% since the beginning of the year, continues to trade at $23.3 at the time of writing.

*This is not investment advice.