Mobilum Picks Chainlink to Provide Cryptocurrency Price Data Feed for Its Trading Platform
Mobilum, the payment processing service connecting cryptocurrency and fiat in real-time, has made a new partnership with Chainlink, the crypto data service. The two firms expect to work together and provide a decentralized oracle service as part of the data feed network.
The resulting ecosystem would enable individuals, and enterprises to connect their smart contracts to their real-world data, payments and events.
Daniel Kochis, Global Head of BD & Partnerships says, “Chainlink is excited to be securely providing cryptocurrency market data to power Mobilum's platform and to help make cryptocurrency payments accessible for everyday transactions.”
— Chainlink – Official Channel (@chainlink) December 13, 2018
Why The Collaboration
Chainlink's decentralized oracle service bridges the on-chain activities to external data sources using a network of distributed nodes to offer reliable and tamper-proof inputs and outputs for multiple smart contracts for any enterprise blockchain solution.
The Mobilum exchange provides trading options to over 200 crypto tokens and more than 400 digital assets. Users can opt for direct crypto to fiat and direct fiat to crypto in instant trades.
Mobilum hopes to put to good use the Oracle network and pull real-time market price feed data and calculate the cryptocurrency amount necessary to settle fiat denominated conversions. Integrating Chainlink's service on its platform will enable instantaneous transactions, low latency, liquidity and market data.
Mobilum will only require connecting the Chainlink service into the internalizer- the software capable of matching orders and providing execution rates. Mobilum then calculates the volatility indexes for the traded cryptocurrencies, accessible through Chainlink's oracles, together with the best execution rates.
Mobilum's founder, Wojtek Kaszycki expresses by saying.
“I believe that our cooperation with Chainlink will create a solution that most of us are waiting for. Both of us, Mobilum and Chainlink are trying to create the most convenient an accessible ecosystem. I think that our partnership is a natural order of things,” he said.
The Mobilum ecosystem offers the perfect platform to enhance convenient payment methods. With its XCARD wallet, app, exchange, biometric credit card and foundation API. These features combine to create an instant payment platform accessible at any point of sale system and also integrate the different crypto and fiat payment methods. Cards, wallet-to-wallet transactions and wire transfers are just some of the convenient payment methods provided by the Mobilum service
Mobilum hopes to decrease the cost of crypto to fiat transactions and guarantee the most favorable execution. The development team is working towards the XCARD project- a secure crypto/FIAT wallet and payment card for cryptocurrency users. Its leading execution rate, low fees and instant transaction execution make it easy for XCARD users to pay and receive payment. Besides, the collaboration with VISA and integration with new services such as SEPA and SWIFT build a cost-effective and fast global transaction system.
Chainlink is the decentralized oracle network that provides smart contracts with secure access off-chain data fees, bank transactions and web APIs. Chainlink is well known for its highly safe and reliable oracles for enterprises such as SWIFT and smart contract development teams.