The U.S. Department of Commerce made a significant announcement on Thursday: it is now placing its Gross Domestic Product (GDP) data on nine different blockchain networks. Furthermore, it plans to work alongside decentralized oracle networks Chainlink and Pyth. The aim is to integrate key U.S. economic figures into the decentralized finance (DeFi) arena and the broader cryptocurrency landscape.
The GDP figures for the second quarter of 2025 have already been uploaded to several prominent blockchains, including Bitcoin, Ethereum, and Solana. Additional blockchains involved are Tron, Avalanche, Stellar, and Ethereum layer-2 solutions like Polygon, Arbitrum, and Optimism. The department also announced that crypto exchanges Coinbase, Gemini, and Kraken provided assistance in this initial data upload.
Chainlink clarified to Decrypt that their company wasn’t directly involved in uploading the GDP data to those specific networks initially.
Looking ahead, the partnerships with Chainlink and Pyth are designed to distribute reliable U.S. government statistics, including GDP, the Personal Consumption Expenditures (PCE) Price Index (a measure of inflation), and Real Final Sales to Private Domestic Purchasers (a key indicator of economic demand), throughout the DeFi space.
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This initiative marks the first instance of a U.S. federal agency releasing economic data directly on a blockchain. Commerce Secretary Howard Lutnick, whose firm Cantor Fitzgerald has significant deeply involved in the cryptocurrency market, teased the development at a recent White House meeting.
The motivations behind this move are varied. Pyth emphasized that this collaboration would improve public confidence in data systems through increased transparency.
Chainlink highlighted the potential of using U.S. government data to support and enhance DeFi activities. They stated the verified data will soon be used in related prediction markets, promoting the creation of innovative crypto assets and increasing the adaptability of tokenized assets.
Decrypt reached out to the Department of Commerce to understand the specific advantages of publishing data on-chain versus other data release methods, but didn’t receive an immediate response.
“It is appropriate that the Commerce Department and President Trump, who embraces crypto, make economic data public on the blockchain,” said Commerce Secretary Lutnick in a released statement. “We’re making America’s economic data available to the globe and truly immutable, making the USA a leader in blockchain.”