SGX FX, the foreign exchange arm of Singapore Exchange Group, has signed up to distribute its OTC currency data on blockchain networks through Chainlink, the oracle platform that already feeds a large share of decentralized finance.

The Singapore-based venue, which counts more than 200 financial institutions among its users, said it will use DataLink, a Chainlink-powered service aimed at institutional data vendors.

The initial feed covers spot and one-month forward prices for major G10, Asian, and emerging market currency pairs, the company said.

Distribution Reach Tied to Chainlink's Footprint

SGX FX said the integration extends its market data into more than 2,600 applications spread across over 75 blockchains, using Chainlink's standard distribution. Those numbers describe Chainlink's existing reach rather than committed clients for the new feed.

The data will be made available to developers building tokenized assets, structured products, and hedging tools on public blockchains, according to the company.

"As markets continue to evolve, users are looking for greater flexibility in how and where they access trusted data," Hugh Whelan, Head of Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term Management and Data at SGX FX, said in the joint statement.

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"Working with Chainlink allows us to support new workflows and use cases while staying aligned with the robust standards our participants expect."

Whelan joined SGX FX last year after running EBS Direct at NEX Group for more than a decade and co-founding multibank platform FXSpotStream.

A Crowded Field of FX Oracles

SGX FX is not the first institutional data provider to wire FX prices into decentralized markets. Devexperts subsidiary dxFeed launched its own Chainlink oracle node in April 2021, while UK-based New Change FX began pushing benchmark FX data through the same network later the same year.

Both efforts targeted developers building decentralized derivatives, lending, and stablecoin protocols.

A more recent competitor, Pyth Network, has been pulling institutional contributors into a rival on-chain price layer. B2C2, the cryptocurrency market maker owned by SBI Group, joined Pyth in October 2025 to feed proprietary pricing into more than 600 decentralized applications.

Blue Ocean Technologies became a Pyth oracle operator the same month, focusing on overnight US equity prices.

What separates SGX FX from prior FX-on-chain attempts is the underlying franchise. The venue grew out of Singapore Exchange's $125 million 2021 acquisition of FX platform MaxxTrader, and now competes against primary-market venues such as CME-owned EBS and LSEG-controlled FXall.

SGX has separately reported OTC FX net revenue rising 35.7% to S$55 million in its most recent fiscal year disclosure.

Tokenization Is the Pitch

Chainlink has spent the past year signing deals that position its infrastructure as a bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service their clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Met The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service their clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Met Read this Term between traditional finance and tokenized markets. Japan's SBI Group inked a tokenization partnership with the firm in August 2025 covering real estate and bond tokens for APAC institutions.

The Abu Dhabi Global Market financial center signed a separate MoU with Chainlink in March 2025 on compliant tokenization frameworks.

Fernando Vazquez, President of Capital Markets at Chainlink Labs, said in the joint statement that the SGX FX adoption marks "a clear milestone in the convergence of onchain finance and the world's largest markets."

Whether OTC FX data finds substantial paying demand on DeFi protocols is still an open question. Most tokenized real-world asset projects to date have centered on US Treasuries, money market funds, and equities.

FX has been used as on-chain collateral, including a pilot run by Lloyds Banking Group and Aberdeen Investments on Hedera Hashgraph in July 2025, but on-chain currency trading volumes remain marginal compared with the roughly $7.5 trillion daily turnover in conventional FX markets.

SGX FX's Wider Push Beyond Asian Hours

The Chainlink deal lands during a period of broader expansion for SGX FX. The venue added BBVA's Latin American currency pricing to its NY4-hosted distribution engine in October 2025, and brought on Middle East broker ADSS as a market maker in January 2026.

SGX FX also helped BBVA become the first EMEA bank to offer round-the-clock retail crypto trading, providing the connectivity to spot bitcoin and ether markets.

That arrangement was announced in October 2025 and is built on the same back-end SGX FX uses to distribute traditional currency pricing.

SGX FX did not disclose pricing, named on-chain customers, or how any revenue from the integration will be shared between the two firms.