SGX FX has adopted Chainlink’s DataLink service to distribute its over-the-counter foreign exchange data to blockchain-based markets.
The arrangement will make SGX FX data available across more than 2,600 applications operating on over 75 blockchains. The initial rollout includes spot and one-month forward rates covering G10, Asian and emerging market currency pairs.
According to the companies, the data is intended for use in decentralised finance applications involving tokenised assets, structured products and hedging workflows.
On-chain environments
SGX FX said the collaboration extends distribution of its FX market data into on-chain environments while maintaining existing standards for institutional users.
Hugh Whelan, head of Liquidity Management and Data at SGX FX, said market participants are seeking “greater flexibility in how and where they access trusted data”.
Clear milestone
The announcement reflects continued efforts by market infrastructure providers to connect traditional financial market data with blockchain-based applications.
Fernando Vazquez, president of Capital Markets at Chainlink Labs, described the move as “a clear milestone in the convergence of on-chain finance and the world’s largest markets”.
