Embodiments of the present invention provide a system for transferring data between a receiver chip and a transmitter chip. The system includes a set of data path circuits in the transmitter chip and a set of data path circuits in the receiver chip coupled to a shared data channel. In addition, the system includes a set of asynchronous control circuits for controlling corresponding data path circuits in the transmitter chip and receiver chip. Upon detecting the transition of a control signal for an asynchronous control circuit in the transmitter chip, the asynchronous control circuit is configured to enable a transfer of data from the corresponding data path circuit in the transmitter chip across the data channel to a corresponding data path circuit in the receiver chip, and generate a control signal to cause a next asynchronous control circuit to commence the transfer of a data signal.