Chainlink and Rapid Addition have partnered to develop a Financial Information eXchange (FIX)-native adapter for institutional digital asset trading. This adapter will be powered by Chainlink's Cross-Chain Interoperability Protocol (CCIP), enabling banks and financial institutions to interact with a wide range of tokenized assets.

The collaboration aims to tap into various markets, including renewable energy products, carbon credits, and real-world assets like real estate and infrastructure. Vince Turcotte, Chainlink Labs' business development lead for Asia Pacific, highlighted the potential benefits for financial institutions, such as encoding smart contracts with FIX tags and instructions, leading to improved trade allocations and reduced settlement errors.

The integration between Chainlink and FIX is expected to enhance interoperability with new blockchain-based asset types, potentially lowering costs for asset managers and their clients. Turcotte believes that digitally native institutions will be early adopters of this integration, recognizing the value of using the FIX protocol to engage with the traditional financial ecosystem and the benefits of blockchain in providing permanence and truth in transactions.