SGX FX Puts Data on Chainlink

SGX FX says it has adopted the Chainlink oracle platform to broaden the distribution channels for its FX data.

The platform is connecting to DataLink to put the data on the blockchain, a move SGX says expands its distribution to over 2,600 applications across more than 75 blockchains. The initial rollout features spot and 1-month forward rates covering major G10, Asian, and emerging market currency pairs. The firm says bringing its data on-chain unlocks new possibilities for decentralised finance and enables tokenised assets, structured products, and hedging workflows to use the same data relied upon by established global FX markets.

“As markets continue to evolve, users are looking for greater flexibility in how and where they access trusted data,” says Hugh Whelan, head of liquidity management and data at SGX FX. “Working with Chainlink allows us to support new workflows and use cases while staying aligned with the robust standards our participants expect.”

Fernando Vazquez, president of capital markets at Chainlink Labs, adds, “[This] is a clear milestone in the convergence of onchain finance and the world’s largest markets. This is how our industry advances to the next level and powers the future of finance.”