Coinbase Integrates On-Chain Market Data with Chainlink DataLink

Coinbase is now publishing its order book and futures data on-chain with the help of Chainlink DataLink, enhancing access to high-quality data for decentralized finance (DeFi) derivatives and tokenized assets.

Key Takeaways

Coinbase is utilizing Chainlink DataLink to provide its exchange market data on-chain.
Institutional investors can now access Coinbase's order book, spot prices, and futures data directly on the blockchain.
This integration is seen as a major advancement in decentralized finance infrastructure.
High-quality exchange data will help improve on-chain derivatives markets and synthetic asset management.
Chainlink’s publishing infrastructure is also available to other major companies, further bridging traditional finance and blockchain.

Coinbase and Chainlink on-chain market data graphic

Coinbase’s New On-Chain Data Access

In a significant move for decentralized finance, Coinbase has teamed up with Chainlink to integrate its DataLink service, bringing the company's premium exchange market data on-chain for the first time. This collaboration was announced by both companies in a recent press release, and it marks a noteworthy advancement in enhancing access to institutional-grade market feeds for DeFi derivatives and tokenized assets.

As part of this initiative, DeFi protocols and developers will now be able to access a wealth of information, including Coinbase’s order book data, spot prices, perpetual futures data from the Coinbase International Exchange, and E-mini futures from the Coinbase Derivatives Exchange. Additionally, data spanning various markets such as crypto, metals, energy, and equity futures will be available, all delivered through Chainlink’s oracle infrastructure.

Liz Martin, Vice President of Coinbase Markets, expressed enthusiasm about this integration, stating, “We are excited to build on our existing Chainlink integrations by adopting DataLink to publish Coinbase’s exchange market data on-chain for the first time.” She highlighted that the Chainlink data standard is a "battle-tested, institutional-grade infrastructure," making it the ideal choice for bringing Coinbase’s market data into on-chain realms. Martin also noted that Chainlink's benchmarks would empower both DeFi and traditional finance (TradFi) developers to create more robust on-chain applications for derivatives, tokenized assets, and beyond.

Broader Implications for Finance

Johann Eid, Chief Business Officer at Chainlink Labs, pointed out the broader implications of this announcement, stating, “Coinbase bringing its exchange data on-chain through Chainlink sends a clear signal.” He added that delivering secure, institutional-grade exchange data to blockchains is crucial for the future of finance. “We aren’t just moving data; we are constructing the programmable market infrastructure that will define the next era of tokenization,” Eid emphasized.

The importance of this integration extends past just better access to data. High-quality exchange data has historically been a challenge for on-chain derivatives markets, synthetic assets, tokenized real-world assets, and lending risk engines. Traditionally, DeFi protocols have depended on decentralized price oracles that pool data from various sources, which, while functional, often lack the depth and granularity that a direct feed from a major institutional crypto exchange offers. With Coinbase being one of the most integrated crypto exchanges globally, it sets a significant benchmark. Although Hyperliquid recently surpassed Coinbase in terms of trading volume with $2.6 trillion, it is noted that Coinbase’s institutional infrastructure continues to be a reference point for the market.

Strengthening Partnerships

The integration on Wednesday adds to the ongoing partnership between Coinbase and Chainlink. Earlier in March, it was reported how Chainlink’s Cross-Chain Interoperability Protocol (CCIP) facilitated the bridging of Coinbase’s cbBTC—a Bitcoin-backed asset—to Monad, which unlocked Bitcoin-backed liquidity for DeFi lending and trading. Chainlink has also been named as Coinbase’s exclusive interoperability provider for all Coinbase Wrapped Assets and supported the Base-Solana bridge that launched in December 2025.

Expanding the Data Network

Notably, Chainlink’s DataLink service is not solely reserved for Coinbase. The institutional data publishing infrastructure is also utilized by S&P Global and FTSE Russell. This indicates a strategic effort to position the Chainlink oracle network as a standard connector between traditional financial data and on-chain markets. As Coinbase continues to pursue its vision of an “everything exchange,” it aims to unify various services—including trading, borrowing, staking, and now, a robust institutional data infrastructure for the broader DeFi ecosystem.