Mobilum to Use Chainlink for Cryptocurrency Price Data Feed for Trading Platform
The Mobilum ecosystem consists of an XCARD wallet and mobile app, biometric credit card, exchange, and foundation API. All these features combined create a leading “any to any” instant payment platform and point of sale system that integrates crypto and fiat currencies with the most convenient payment methods — cards, wire transfers and wallet to wallet transactions.
The Mobilum platform enables trading with over 200 crypto tokens, direct fiat to crypto, and direct crypto to fiat conversions instantly. There are more than 400 assets available. Using Chainlink’s decentralized oracle network, Mobilum will pull market price feed data to calculate the amount of cryptocurrency need to settle fiat denominated conversions.
Due to low adoption and lack of liquidity, which creates high volatility and uncertainty, cryptocurrencies are not considered as a means of payment but rather only a speculative investment product. Consensus mechanisms caused by inherent latency create even bigger barriers. Working with Chainlink promises way forward to lower those barriers and make using cryptocurrency as easy as paying for coffee.
“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.” said Daniel Kochis, Global Head of BD & Partnerships.
By integrating Chainlink’s decentralized oracle network in its platform, Mobilum can enable instant transactions, liquidity, low latency and a significant amount of market data. Mobilum will connect Chainlink into its internalizer — a middleware software for matching orders and providing the best execution rates. Mobilum calculates volatility indexes for traded cryptos, which will be accessible through Chainlink oracles, together with best execution rates for major currency pairs.
“I believe that our cooperation with Chainlink will create a solution that most of us is 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,” said Wojtek Kaszycki, the founder of Mobilum.
Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. Chainlink is consistently selected as one of the top blockchain technologies by leading independent research firms such as Gartner. It is well known for providing highly secure and reliable oracles to both large enterprises (SWIFT) and leading smart contract development teams.
Mobilum is the missing puzzle piece that cryptocurrency holders and users have been waiting for. Mobilum directly connects every cryptocurrency with any payment card, regardless bank that you belong, and which card You have in your pocket. Mobilum’s team is developing XCARD project to deliver the most secure crypto & FIAT wallet and payment card to the cryptocurrency users. With XCARD you can pay or receive a payment, the buyer and seller decide which currency they use — independently. Mobilum platform provides the best execution rate, immediate transaction execution and the lowest fees on the market. Cooperation with VISA and the implementation of new services such as SEPA (Target/TIPS) and SWIFT schemes allows users to benefit from fast and cost-effective transfers globally.
Note: chainlinkecosystem.com does not claim any ownership of this content, all credit to Morpheus Network, view official announcement.