Deep Blue Leverages Chainlink To Boost Transparency and Connectivity of New Multi-Chain DBUSD Stablecoin

We’re excited to announce that Deep Blue is leveraging Chainlink — the standard for onchain finance. Chainlink Proof of Reserve (PoR) will provide transparency into the reserves of DBUSD, Deep Blue’s new US dollar stablecoin, accelerating its adoption by increasing users’ confidence that the stablecoin is fully backed at all times. Additionally, Deep Blue will leverage Chainlink Cross-Chain Interoperability Protocol (CCIP), the standard for blockchain interoperability, to make DBUSD easily and securely interoperable across chains.

The Stablecoin Opportunity

Stablecoins offer a secure and compliant way to engage in digital asset markets, supporting a broad range of applications from payments to remittances. To expand the use of stablecoins, Deep Blue launched DBUSD, a stablecoin pegged 1:1 to the US dollar.

Deep Blue aims to transcend borders, facilitating seamless international transactions. However, both onchain applications and end-users often lack trust in the collateralization of new stablecoins, while a lack of cross-chain interoperability limits their liquidity and utility. The Chainlink platform provides a unified solution to overcome these challenges and enable the rapid adoption of DBUSD across the international, multi-chain economy.

Providing Real-Time Visibility Into DBUSD Reserves

DBUSD is designed to maintain a peg to the US dollar and is fully backed by cash and near-cash assets, such as US Treasuries and money market funds held in a wide network of global banks and custodians. However, as these reserves are held offchain, onchain users lack visibility into the real-time collateralization of DBUSD.

Chainlink Proof of Reserve helps solve this problem by delivering real-time reserve information for stablecoins and other tokenized assets onchain, providing a heightened level of transparency and increasing user confidence in the asset. This PoR will serve as an offchain reserves feed that pulls data directly from Deep Blue’s banking and custodial relationships and publishes it onchain. This enables DeFi apps and users to verify reserves.

Key benefits of adopting Chainlink Proof of Reserve include:

• Programmatic Utility — By bringing reserve data onchain, protocols can build automated logic around the reserve data backing an asset (e.g., circuit breakers), and realize new use cases and features such as automated onchain risk management.
• Decentralized Transmission — As the industry-standard solution, Chainlink Proof of Reserve Feeds are decentralized at the oracle node level, reducing central points of failure in the delivery of data to blockchains.
• Transparent — Chainlink Proof of Reserve Feeds can be monitored by anyone in real time, allowing any user to independently review asset collateralization. This brings increased transparency and trust to onchain products.

CCIP Will Make DBUSD Easily Accessible Cross-Chain

To enable international transactions and provide advanced use cases, it’s critical that DBUSD can be easily and securely accessed from across the multi-chain economy. Through the use of CCIP, we will enhance the utility, liquidity, and accessibility of DBUSD.

Selecting CCIP was an easy choice because Chainlink has a proven track record of maintaining the highest standard of security and reliability in the industry. CCIP is the only interoperability solution achieving level-5 cross-chain security and is backed by the Risk Management Network — a separate, independent network that continually monitors and verifies cross-chain operations for suspicious activity. This advanced security is critical given historical industry exploits that were direct results of unreliable cross-chain infrastructure.

CCIP features and benefits:

• Defense-in-depth security — CCIP’s consensus layer is powered by the same Chainlink Decentralized Oracle Network (DON), infrastructure that has secured $75+ billion in DeFi TVL at its peak and enabled $17+ trillion in onchain transaction value since the start of 2022. Each CCIP transfer is redundantly validated by multiple DONs, including an independent Risk Management Network that continuously monitors and validates the behavior of CCIP — a wholly unique concept in cross-chain interoperability that builds upon established engineering principles (N-version programming).
• Seamless integration — CCIP offers a unified cross-chain developer experience by providing a single, easy-to-integrate interface. Developers only need to integrate the CCIP Router onchain to start building secure cross-chain applications. CCIP eliminates the need for developers to write custom code for chain-specific integrations, while users can interact with any blockchain via a single interface.
• Extendable and future-proof — CCIP is built to be future-proof for developers, where future improvements can continue to be made, including the integration of new blockchain networks, the onboarding of additional tokens, and the incorporation of new defense-in-depth approaches to security.

“We’re excited to leverage the Chainlink standard platform to accelerate the adoption of the DBUSD stablecoin across the multi-chain ecosystem. Proof of Reserve will provide real-time visibility into our offchain reserves, increasing DeFi apps and users’ confidence in DBUSD, while CCIP will help enhance its utility, liquidity, and accessibility.” — Julien Bahurel, Co-Founder at Deep Blue

“We’re thrilled to support Deep Blue’s new USD dollar stablecoin and accelerate its adoption by providing visibility into its offchain reserves and enabling cross-chain connectivity. Chainlink infrastructure will play a key role as Deep Blue grows the use of DBUSD across the world.” — Niki Ariyasinghe, Head of Business Development, Asia-Pacific and Middle East at Chainlink Labs

About Chainlink

Chainlink is the standard for onchain finance, verifiable data, and cross-chain interoperability. Chainlink is unifying liquidity across global markets and has enabled over $17 trillion in transaction value across the blockchain economy. Major financial market infrastructures and institutions, such as Swift, Fidelity International, and ANZ Bank, as well as top DeFi protocols including Aave, GMX, and Lido, use Chainlink to power next-generation applications for banking, asset management, and other major sectors.

Learn more by visiting chain.link

About Deep Blue

Deep Blue Limited (“Deep Blue”) is the issuer of a next generation stablecoin known as DBUSD, which is dedicated to enhancing global financial inclusion through blockchain technology. Deep Blue’s unique Jersey-based setup includes a bankruptcy remote legal structure, as well as the appointment of well-established and reputable service providers. Deep Blue is supported by an extensive ecosystem of key partners including financial institutions and key industry firms, ensuring operational excellence, stability and transparency. DBUSD is backed by low-risk assets such as money market funds, with use cases including cross-border payments, remittances, trading and collateral value.

Learn more by visiting deepblue.to