Rapid Addition, the provider of FIX connectivity solutions, has collaborated with Chainlink, the infrastructure for tokenised assets, to create a FIX-native blockchain adapter for institutional digital asset trading, built using Chainlink’s Cross-Chain Interoperability Protocol (CCIP).
The strategic partnership aims to enhance interoperability between the traditional finance (TradFi) world of banks and financial institutions and the decentralised finance (DeFi) world of blockchain and tokenised assets, which can include carbon credits, renewable energy products, and tangible assets like real estate and collectibles. By leveraging Rapid Addition’s network, Chainlink’s CCIP and the FIX messaging protocol, the collaboration seeks to capitalise on emerging blockchain platforms, while ensuring compliance with global financial regulations.
“Working with Chainlink on this new capability means our clients will benefit from seamless and secure integration into blockchain-based platforms without the need to duplicate systems and controls,” commented Mike Powell, CEO of Rapid Addition. “Our users require access to liquidity and post-trade services regardless of the underlying technology. As a result of this collaboration with Chainlink, financial institutions will be able to leverage their existing trading infrastructure to enter the new era of digital assets.”
The development, which aligns with the initial recommendations from FIX’s digital assets and technology committee, is a response to the growing intersection of on-chain and off-chain financial services, with a focus on improving liquidity and efficiency in centralised markets.
Vince Turcotte, Business Development Lead, Asia Pacific for Chainlink Labs, commented: “The key to institutional adoption of these new asset types lies in the effective interoperability between traditional systems and blockchain technology, which is why we’re so excited to announce this partnership between Rapid Addition and Chainlink. Combining Chainlink CCIP with Rapid Addition’s FIX platform lowers the technical barriers of entry to new trading venues, buy-side participants, and brokers for digital assets.”
Subscribe to our newsletter
