Chainlink news

Chainlink has joined a working group with European and South Korean banking organizations to explore stablecoin-based foreign exchange settlement. The initiative, called Project Pangea, involves South Korean digital asset firm FairSquareLab, the Unified Korea Alliance (UniKA) consortium of over a dozen Korean banks, and Qivalis, a euro stablecoin consortium backed by 37 European banks. The project aims to evaluate atomic swaps of euro- and won-denominated stablecoins using Chainlink's data infrastructure and FairSquareLab's onchain FX settlement technology. This is a working group with no production timeline announced, reflecting a broader trend of banks testing tokenized deposits and regulated stablecoins for wholesale financial infrastructure.

Blockchain infrastructure firm Chainlink has joined Project Pangea, a coalition of 37 European banks and 10 South Korean banks, to enable near-instant cross-border payments using stablecoins within a year. The initiative aims to settle foreign-exchange trades in euro- and won-pegged stablecoins via atomic payment-versus-payment mechanisms, reducing settlement time from two days to real time. Project Pangea focuses on the $150 billion Europe-South Korea trade corridor and acts as middleware, allowing banks to use existing Swift and ISO 20022 systems while settling on the Pangea L1 blockchain. Chainlink said the project targets live transactions within 12 months under a legal and regulatory framework.

Chainlink's oracle infrastructure now powers prediction markets for the 2026 World Cup, with platforms like ADI Predictstreet and Myriad settling bets using Chainlink's data feeds. Polymarket's World Cup winner market has attracted nearly $2.2 billion in bets, and Chainlink's Data Streams have processed over $7 billion. Despite this adoption, LINK trades near $7.94, about 23% below its May highs, reflecting broader market sentiment rather than network usage. Daily active addresses surged to 5,679 on June 5, the day LINK hit a 90-day low, highlighting a disconnect between usage and price. Analysts are divided: Joao Wedson of Alphractal sees LINK entering an accumulation zone, while Santiment notes price moves remain tied to macro conditions. The coming weeks will test whether growing adoption can eventually lift LINK's price.

Chainlink has been adopted as the exclusive oracle infrastructure provider for ADI Predictstreet, the official prediction market partner of the 2026 FIFA World Cup. The partnership places Chainlink at the center of an estimated $2.37 billion in U.S. prediction market trading volume projected for the tournament, while competitors Polymarket and Kalshi face regulatory challenges in multiple states. Chainlink will write real-world match results onto the blockchain via its Runtime Environment (CRE), enabling automated market resolution and instant payouts, removing the slow, dispute-prone manual settlement process. ADI Predictstreet's official status gives it access to FIFA data and branding, differentiating it from other platforms.

Prediction market platform Myriad has adopted Chainlink as its exclusive oracle infrastructure for the 2026 FIFA World Cup match markets, enabling near-instant market resolution and settlement. The integration builds on Myriad's existing use of the Chainlink Runtime Environment for crypto price markets. Myriad is also running a $100,000 trading competition on World Cup markets, with top prizes for traders. The company recently closed a 'milestone' seed funding round with backers including MoonPay Ventures, Auros, and Fundstrat co-founder Tom Lee.

The Blockchain Leadership Fund, a political action committee backed by Chainlink Labs and Anchorage Digital, issued its first bipartisan endorsements for the 2026 midterm elections on Thursday. The PAC is supporting four Senate and six House candidates from both parties, aiming to advance digital asset and blockchain policies. Among the endorsed Senate candidates are Republicans Barry Moore, Kurt Alme, Jon Husted, and Democrat Angie Craig. The House endorsements include Houston Gaines, Jim Kingston, Jon Bonck, Adrian Boafo, Christian Menefee, and Don Davis. The PAC, formed in March, focuses on backing lawmakers working on crypto legislation. Craig, a House Agriculture Committee member, is seeking a Senate seat.

Lombard Finance is moving its cross-chain infrastructure from LayerZero to Chainlink's CCIP, impacting over $1 billion in Bitcoin-backed assets. The decision follows a security review after the Kelp DAO exploit, which led to a $292 million loss. Lombard will also adopt Chainlink's Cross-Chain Token standard for minting and burning tokens. The migration affects Lombard's assets on Solana, Ethereum, Berachain, and other networks. LayerZero technology will be discontinued on Morph and Swell. Lombard cited Chainlink's secure-by-default foundation and additional security layers as key reasons for the switch. The move comes amid a broader trend of crypto projects leaving LayerZero after the Kelp DAO incident, including Solv Protocol, Re, and Kelp DAO itself.

Kraken is moving its wrapped Bitcoin (kBTC) to Chainlink's Cross-Chain Interoperability Protocol (CCIP) amid growing bridge-security concerns in DeFi. The exchange will deprecate its existing cross-chain provider, making CCIP the exclusive infrastructure for kBTC and future wrapped assets. The migration follows the KelpDAO exploit and places exchange-issued Bitcoin wrappers into the broader debate over cross-chain security. kBTC is Kraken's 1:1 Bitcoin-backed token, with reserves held at Kraken Financial. The move aims to enhance distribution across networks like Ink, Unichain, Ethereum, and OP Mainnet. Kraken's decision aligns with a trend of DeFi projects shifting to Chainlink after the exploit, which intensified scrutiny of alternatives like LayerZero. While CCIP reduces certain cross-chain risks, users must still consider Kraken custody, smart contract vulnerabilities, and destination-chain exposure. The success will hinge on migration execution and kBTC liquidity growth.

Lombard is migrating over $1 billion in bitcoin-backed assets from LayerZero to Chainlink's CCIP bridge, joining a shift of about $4 billion in total value locked following a $292 million exploit on Kelp's LayerZero-powered system. The move follows similar actions by Kelp DAO, Solv Protocol, Re, and Kraken, as cross-chain bridges face heightened security scrutiny. Lombard cited CCIP's independent node operators, rate limits, and audited infrastructure.

Cryptocurrency exchange Kraken announced Thursday it is migrating its cross-chain infrastructure from LayerZero to Chainlink's Cross-Chain Interoperability Protocol (CCIP) for its wrapped Bitcoin token kBTC and future wrapped tokens. Kraken cited CCIP's enterprise-grade security features, including certifications, 16 independent nodes and native rate limits. The move follows the April Kelp DAO exploit where approximately $292 million in liquid restaking tokens were stolen, allegedly by North Korea's Lazarus Group. LayerZero later issued an apology, acknowledging internal RPC attacks and blaming Kelp's single-DVN setup. Since the hack, multiple protocols including Kelp DAO, Solv Protocol, and Re have migrated away from LayerZero, with over $3 billion in total value locked moving to CCIP.