April 24, 2020 Coinbase releases new price oracle service, targeted at the DeFi ecosystem.

The cryptoasset exchange, Coinbase has launched a new price oracle service, called Coinbase Oracle that it has designed for the decentralized finance (DeFi) sector. The new service allows DeFi protocols to access price data for BTC/USD and ETH/USD from Coinbase Pro. Coinbase has stated that unlike other exchange APIs that rely on the exchange to accurately publish price data, there is no such similar trust assumption. Under its design, Coinbase’s private key signs the price data, and users can cross-reference and verify said data with the oracle’s public key.