Crypto.com’s Cronos Announces The Integration of Chainlink Price Feeds

Crypto.com said it will integrate Chainlink Price Feeds into its Cronos testnet — Crypto.com’s testnet, which runs parallel to the Crypto.org EVM Chain.

In a report, Crypto.com announced the integration of Chainlink Price Feeds into Crypto.com’s Cronos as its recommended solution for developers who need more financial market data in their DeFi apps.

In addition, running on a proof-of-authority (PoA) consensus algorithm and powered by Ethermint, Cronos aims to allow developers to run projects from Ethereum and EVM-compatible chains to the Crypto.org ecosystem by giving users access to Decentralized Finance features.

According to Crypto.com, the integration will provide Cronos developers access to the industry’s most time-tested and reliable decentralized price oracles. As a result, it will enable a wide range of cryptos and traditional assets to be priced on-chain by lending or borrowing protocols as well as asset management services, advanced DEXes, and many more.

Following this, Kris Marszalek, Co-founder, and CEO of Crypto.com said,

Our goal is to provide full-spectrum support for all projects built on Cronos. Chainlink has always been a trusted partner for provisioning secure and reliable decentralized oracle networks and the integration will benefit DApps that need oracles, especially price feeds, to function.

More so, this is the second time Crypto.com collaborates with Chainlink Labs, the leading provider of secure and reliable open-source oracle solutions. The first time was on September 14, 2020, where Crypto.com has integrated Chainlink’s Price Feeds into its DeFi Wallet on Mainnet to give decentralized price feeds for DeFi tokens.

Crypto.com’s DeFi Wallet was launched in early 2020. What is more, the wallet gives customers full ownership of their private keys. Beyond this, it provides secure and user-friendly access to the DeFi ecosystem that is powered by CRO.