Chainlink tells New Hampshire commission its oracles can support secure state stablecoins

Chainlink Labs told New Hampshire’s Commission on the Study of Stable Tokens that its oracle network and interoperability tools can help states deploy and monitor tokenized dollars and other tokenized assets.

“Chainlink makes digital assets useful for the real economy,” Colin Cunningham, head of tokenization and alliances at Chainlink, said in a presentation to the commission. He described a suite of products — proof‑of‑reserves, SecureMint, the CCIP cross‑chain interoperability protocol and an automated compliance engine — that Chainlink says can verify off‑chain reserves, prevent over‑minting, enable multi‑chain distribution and enforce jurisdictional compliance.

Why it matters: members of the commission are exploring whether and how New Hampshire could issue or authorize a state‑aligned stable token; technologies that provide continuous, automated attestations of backing assets and built‑in compliance checks are central to whether a token can meet prudential and legal requirements.

Cunningham said Chainlink’s proof‑of‑reserves offering checks the composition of an issuer’s reserve accounts and, together with SecureMint, can block on‑chain minting that would not match the off‑chain records. He described CCIP as a mechanism to make minted assets reachable across multiple blockchains and said Chainlink’s recent focus includes privacy and institutional compliance integrations.

Commission members pressed Chainlink on where legal liability would fall if an oracle or attestation failed. "Who is responsible for an oracle failure along these chains?" asked Seth Thornburg, the commission’s academic appointee. Cunningham said Chainlink builds fault‑tolerant, decentralized oracle networks and that liability questions are primarily legal matters; he offered to connect members with the company's legal team for a detailed response.

Jim Kish, the banking industry representative, asked whether Chainlink works with tokenized deposits. Cunningham said tokenized deposits are a use case and that proof‑of‑reserves and integration with custodians or fund accountants are typical approaches to establish a source of truth for on‑chain minting.

On transparency and cost, members asked whether Chainlink’s codebase is open source and about ongoing subscription or usage fees. Chainlink said much of its stack is public but deferred some confirmatory details to technical teams; on pricing, the company said there is an integration cost and generally a subscription or usage element for managed products, but that programmatic attestations can be less expensive than repeated third‑party audits.

The company agreed to follow up with the commission’s questions on liability and to provide technical clarifications.

Next steps: Chainlink will provide follow‑up answers and materials to the commission; no formal procurement decisions were made during the meeting.