Galaxy Digital Holdings Ltd BRPHF, a leading financial services provider in the field of digital assets, announces the integration of chain links LINK/USD market price oracle.

This collaboration would bring Galaxy Digital more reliable price data streamed directly over blockchain protocols. Chainlink works through a trusted decentralized system.

Chainlink integration will show Galaxy Digital Spot prices for cryptocurrencies such as Bitcoin BTC/USD and ether ETH/USD.

These prices can be streamed in US dollars and denominated in other foreign currencies as well.

The Chainlink protocol is powered by its token LINK, which currently ranks in the top 20 by market cap and is valued at more than $3.8 billion. Galaxy Digital’s $2.1 billion in assets under management will benefit as the fund demonstrates its commitment to a decentralized future.

Why is it important: Chainlink is dedicated to bringing real-world data to the blockchain in a trustless manner.

Chainlink is an important protocol used by many DeFi applications. The announcement of the integration by Galaxy Digital will likely mean more blockchain applications for the fund.

While Chainlink is the leading protocol for streaming currency prices onto the blockchain, it aims to become much more and is working on other traditional financial instruments that could benefit from blockchain technology, most notably the derivatives market.

Galaxy Digital’s integration could benefit its many crypto investment vehicles and provide an opportunity to collaborate in other investment vehicles. As the Chainlink protocol evolves, this collaboration is likely to become more robust.