Mento Adopts the Chainlink Data Standard to Power Decentralized Stablecoins
May 21 2025
by Victoria Calmon
We’re excited to announce that Mento, a leader in onchain FX and a multicurrency stablecoin platform, has adopted the Chainlink Data Standard via Chainlink Price Feeds on Celo mainnet. Chainlink Price Feeds help power the ~$20B in annualized volume transacted through the Mento protocol today. By integrating the leading decentralized computing platform for 15 stablecoins and counting, Mento gains access to high-quality, tamper-proof pricing data needed to price token swaps between various digital currencies on the Mento Asset Exchange, a virtual AMM. This provides Mento users with strong assurances that onchain prices track off-chain Forex rates as closely as possible.
We chose Chainlink as an oracle solution because its infrastructure is seamless to adopt and time-tested in production. As the most widely adopted price data standard in Web3, Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
Today the Mento Platform offers a growing portfolio of 15 stablecoins on the Celo blockchain: cAUD, cREAL, cCAD, cCHF, cCOP, cUSD, cEUR, cGBP, cGHS, cJPY, cKES, cNGN, PUSO, cZAR, and eXOF. Mento stablecoins are actively used for cross-border payments, mobile money transactions, remittances, microloans, and FX trading, serving more than 7 million users globally.
In order to help secure the Mento Asset Exchange, an efficient virtual Automated Market Maker (vAMM), we needed access to fresh asset prices that are supplied directly onchain in a highly reliable manner. Fair market asset prices should reflect a volume-weighted average from all trading environments. Thus, we needed to make use of an oracle network to fetch aggregated price data off-chain and deliver it onchain to be consumed by our application.
After reviewing various oracle solutions, we adopted Chainlink Price Feeds because they provide a multitude of critical features such as:
High-Quality Data—Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes. Chainlink’s data aggregation model generates precise global market prices that are resistant to API downtime, flash crash outliers, and data manipulation attacks like flash loans.
Secure Node Operators—Chainlink Price Feeds are secured by independent, security-reviewed oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.
Decentralized Network—Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.
Transparency—Robust, publicly available reputation frameworks and onchain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.
“Chainlink is proud to be working closely with Mento to deliver secure, reliable price data for their onchain FX and stablecoin platform. As a pioneer in expanding global access to multicurrency stablecoins, Mento brings real-world utility and institutional-grade pricing to users everywhere. This collaboration reflects our shared vision of bringing FX onchain,” said Michael Mendes, Head of Data GTM, at Chainlink Labs.
“Adopting the Chainlink data standard was an obvious choice and enables Mento to grow its portfolio of stablecoins and maintain the integrity of the Mento Reserve ratios in real-time,“ said Markus Franke, CEO of Mento Labs.
About Chainlink
Chainlink is the standard for onchain finance, verifiable data, and cross-chain interoperability. Chainlink is unifying liquidity across global markets and has enabled over $20 trillion in transaction value across the blockchain economy. Major financial market infrastructures and institutions, such as Swift, Fidelity International, and ANZ Bank, as well as top DeFi protocols including Aave, GMX, and Lido, use Chainlink to power next-generation applications for banking, asset management, and other major sectors. Learn more by visiting chain.link.
About Mento
Mento is the leading decentralized FX infrastructure, enabling seamless trading and settlement of global currencies onchain. Built for both institutions and individuals, Mento powers real-world financial use cases from cross-border payments to credit markets, through a growing portfolio of overcollateralized stablecoins and a transparent, multicurrency platform.
Learn more: mentolabs.xyz
Follow Mento: @MentoLabs
Mento Labs is the core development team behind Mento, dedicated to expanding the Mento ecosystem by enhancing smart contracts to advance onchain FX.
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