FinTech firm Spartan Hill has announced it is integrating Chainlink Price Feeds to help power a new decentralized Colombian Peso stablecoin called Daily (DLY), CryptoSlate learned in a release.
The team will sponsor and use a new Chainlink Price Feed for COP-USD to accurately and securely calculate the value of crypto collateral used to mint/burn new DLY stablecoins.
“We selected Chainlink because it’s the blockchain industry’s most widely used and time-tested oracle network, helping secure tens of billions of dollars in value for top decentralized finance (DeFi) protocols,” noted Spartan Hill in a statement. “Chainlink Price Feeds provide high-quality price data on-chain with extensive market coverage and robust underlying oracle infrastructure, establishing strong protections against downtime and price inaccuracies on a single or small set of exchanges.”
