Crypto exchange giant Coinbase (NASDAQ: $COIN) said Wednesday that its working with Chainlink (CRYPTO: $LINK) to bring its exchange data onchain for the first time.

The San Francisco based company says it will integrate its data using Chainlink’s DataLink service, an infrastructure layer designed to publish financial data directly onto blockchain networks. The move puts Coinbase’s exchange data, which facilitates billions of dollars in trading activity, available to onchain applications.

According to the firm, providing this data onchain could improve pricing accuracy, risk management, and the development of new financial products across decentralized markets. These include derivatives, tokenized real-world assets, and lending systems that rely on reliable external data inputs.

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Chainlink, which operates a decentralized oracle network that connects blockchains with real-world data, will serve as the delivery layer for the information. By using its infrastructure, developers will be able to access the Coinbase data without managing complex data pipelines themselves.

“This marks a major milestone in DeFi market infrastructure,” the company said, pointing to the growing need for trusted data sources as blockchain-based financial systems expand.

Liz Martin, Vice President of Coinbase Markets, said the integration builds on existing collaborations between the two firms and opens the door for more advanced onchain applications.

“We’re excited to build on our existing Chainlink integrations by adopting DataLink to publish Coinbase’s exchange market data onchain for the first time,” Martin said.

The development reflects a broader trend across the crypto industry, where firms are working to bridge centralized exchange infrastructure with decentralized financial systems through standardized data layers.

Shares of Coinbase are trading at $183.89, up 1.57 percent.