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The firm will now be the preferred oracle partner for the Hedera network and provide integration for tokenization on Hedera.

Oracle solutions provider Chainlink Labs has joined the governance council overseeing the Hedera network.

In an announcement from Chainlink today, the project said it had become the 21st member of the Hedera Governing Council to help organizations utilize decentralized applications. Chainlink will now be the preferred oracle partner for the Hedera network and provide integration for tokenization on Hedera.

“As enterprise adoption of distributed ledger technology continues to advance, decentralized oracle solutions become critical for every vertical — from DeFi and insurance, to gaming and NFTs, and more,” said David Post, managing director of business development and strategy at Chainlink. “It is a very natural progression for us to join the Hedera Governing Council and work with the leading enterprise-grade public network and their other Council members to make Chainlink the default oracle provider for enterprise applications.”

Many projects and organizations have joined Hedera’s governance council in the last year, including Google Cloud, University College London, and South Korea financial institution Shinhan Bank. Members vote on the direction of software for Hedera’s nodes, and the platform’s codebase.