Chainlink announced that it now meets ISO 27001 and SOC 2 standards. It is the first on-chain oracle service provider to achieve this level of compliance.
This achievement marked a key milestone in the network's plans to establish institutional partnerships in the financial sector. Reportedly, both are the gold standards that banks require to operate on-chain. Therefore, the certifications will elevate Chainlink to the level of trust necessary for the security of banking operations.
The compliance certification marks a crucial moment, especially now that banks have strongly pushed the adoption of WEB3. This development emphasized Chainlink's potential to integrate with some of the most important banking institutions. An outcome that could generate greater revenue for the network, which, in turn, will drive a higher allocation to the Chainlink reserve.
These advancements highlight an increased growth potential for Chainlink, which could also boost its bullish potential, especially considering that the integration of Chainlink's services with banks will generate higher revenues.