BroadChain has learned that on March 25, The Block reported Coinbase's announcement of a significant milestone: for the first time, the exchange is directly publishing its market data on-chain via Chainlink Data Link. This includes comprehensive order book data as well as derivatives data, covering futures and perpetual contracts.
The integration taps into data streams from both Coinbase International Exchange and Coinbase Derivatives Exchange. This move enables on-chain protocols and decentralized applications (dApps) to access and cryptographically verify real-time market information across a wide range of asset classes, including perpetual contracts, equities, and commodities.
According to Coinbase, this initiative serves a dual purpose. It helps commercialize the company's core market data assets, advancing its broader "universal exchange" vision and integrated prime brokerage strategy. Simultaneously, it provides DeFi and traditional finance developers with institutional-grade benchmark data, fostering innovation in areas like derivatives and tokenized assets.
Chainlink highlighted that this collaboration is poised to deliver a more secure and reliable data infrastructure for on-chain finance, which is expected to accelerate the development of the next-generation financial system.