Top Korean Banks select Chainlink and CenterPrime to bring their forex data on-chain, fintech and DeFi

CenterPrime, a private Hyperledger based chain with unique access to the Korean open banking API, is sharing foreign exchange rate data from top Korean banks including Hana Bank, Shinhan Bank, Nonghyup Bank, and Industrial Bank of Korea (IBK) to Chainlink’s decentralized oracle network.

According to CenterPrime’s announcement, this is a major milestone for the Korean fintech space. They noted:

“This integration with Chainlink marks a major breakthrough for the Korean fintech industry. For the first time in history, applications will be able to access decentralized foreign exchange rates compiled by the best banks in Korea.”

Chainlink data oracles within the DeFi ecosystem. Source: CenterPrime.

CenterPrime is focused on working with the Korean Banking industry to use Chainlink’s oracle technology to share high-quality KRW-denominated price feeds for foriegn exchange rates such as KRW/USD, KRW/EUR, and KRW/CNY, and more.

“I think banks can participate in the smart contract revolution and Blockchain. And then how they’re going to reinvent the global financial system is by the providing of various data, the providing of various services to these financial products.” Chainlink co-founder Sergey Nazarov speaking at On-Chain Fintech Conference recently.

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