Crypto.com views Chainlink integration as a gateway to DeFi

Crypto.com is adding Chainlink’s price feeds to its decentralized finance wallet as it begins expansion into the booming space. The company's chief operating officer, Eric Anziani, told Cointelegraph:

“I would say with the partnership with Chainlink is kind of our first integration with a DeFi protocol, it brings value to our customers in terms of providing transparency in the prices that we're giving them in our DeFi wallet and also making sure our ecosystem token CRO can be integrated into the external protocol by building a price feed for CRO specifically thanks to the Chainlink architecture.”

Chainlink integration. Source: Crypto.com.

The first trading pair that will receive a decentralized price feed is CRO/ETH, which will be followed by CRO/USD. Anziani said that the company is starting with DeFi tokens, but in the future, it plans to use Chainlink’s price feeds for all the tokens in its ecosystem. According to him, the expansion into the DeFi space is not driven by the desire to capitalize on the hype, but rather by the fundamental belief that every human being has an inherent right to control their finances, data and identity:

“We are a very strong believer that blockchain tech and DeFi, in particular, can potentially empower millions to exercise this right, the right to have the control over their money. And we've embarked as a company on a mission of building a full ecosystem to make sure Blockchain tech is adopted and used.”

Discussing the recent controversy around leading exchanges listing the hyped SUSHI token, Anziani said that in his opinion, Crypto.com customers trust it to do its due diligence prior to listing a new asset; therefore, the company decided against listing it:

“We were aware of the project and when we looked at it, we felt it was not the right time.”

As exciting as the DeFi growth has been, the trend toward a more sustainable approach should be welcomed.