Market News

US Commerce Dept Brings Key Economic Data On-Chain via Chainlink

The U.S. Department of Commerce is teaming up with Chainlink to put government economic data on the blockchain. Starting with July 2025 data, the Bureau of Economic Analysis reported that GDP grew at an annual rate of 3.3 percent.

The initiative, led by Commerce Secretary Howard Lutnick, aims to make important U.S. economic figures more transparent and easier to use across digital markets. The data will be shared on ten blockchains, including Arbitrum, Avalanche, Base, Botanix, Ethereum, Linea, Mantle, Optimism, Sonic, and ZKsync

Chainlink said in a blog post that six major datasets will be included, such as Real GDP, the PCE Price Index, and Real Final Sales to Private Domestic Purchasers. “These new Chainlink Data Feeds securely deliver critical information around key U.S. economic data on-chain,” the company said.

By putting the data on-chain, developers can use it for a variety of applications, from automated trading strategies to tokenized assets and real-time prediction markets. DeFi platforms can also better manage risk using official government numbers.

The Pyth Network is also involved in the project. In an official statement, the network said it was “honored to have been selected as a critical component” after months of engagement with the Commerce Department. The integration is seen as a way to build trust in decentralized systems while opening doors for innovative products using real economic data.

The move is part of the Trump administration’s effort to introduce blockchain in public institutions. Earlier this year, the Department of Government Efficiency, led by Elon Musk, reviewed potential uses of blockchain to cut costs and improve transparency.

At the same time, the White House Working Group has also highlighted the role of oracle networks in supporting tokenized money and stablecoins, showing that government adoption is now moving from theory to practice.

Bringing macroeconomic data on-chain could change how markets use information. By making GDP, inflation, and consumption data readily available, the U.S. government is connecting public institutions with digital finance in a way that is practical, secure, and ready for the next generation of financial tools.   

Also Read: Tether to Launch Native USDT on Bitcoin via RGB Protocol

Richard Ogunjobi

Richard Ogunjobi is a well-experienced crypto journalist who has covered topics that cut across several topics and niches. Richard has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, and loving traveling.

Related Articles

Leave a Reply

Back to top button