BTC PULSE
No Result
View All Result
Play Now
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

SWIFT and Chainlink Partnering for Interoperability

by Favour Ajibade
Sep 30, 2022 - 12:00 am
in Blockchain
SWIFT and Chainlink Partnering for Interoperability

SWIFT, the interbank messaging platform that allows cross-border payments, announced its partnership with Chainlink, a provider of price feeds and other data to blockchains, on Wednesday, September 28, to work on a proof-of-concept (POC) – a cross-chain interoperability protocol (CCIP) would allow traditional financial institutions to trade across several blockchain networks.

Sergey Nazarov, co-founder of Chainlink, and Jonathan Ehrenfeld Solé, the director of SWIFT strategy, announced on September 28 at the SmartCon 2022 Conference in New York.

The project aims to allow traditional finance (TradFi) players to access traditional and digital assets on one network; the initiative will connect SWIFT’s network to almost every blockchain.

Over the past few months, the need for interoperability has grown significantly, and it has been hailed as the next major leap for both cryptocurrency natives and TradFi investors going into digital assets.

The success of the collaboration between Chainlink and SWIFT on CCIP may be attributed, in part, to institutional investors’ undeniable interest in investing in digital assets, according to Jonathan Ehrenfeld Solé, Strategy Director, who made this statement at the conference.

He continued by saying that participants in traditional finance want to access traditional and digital assets on a platform that can link different asset types. He added that the partnership between SWIFT and Chainlink on the cross-chain interoperability would significantly help TradFi institutions bridge the gap between digital and traditional assets.

According to Nazarov, the PoC will speed up the acceptance of distributed ledger technology (DLT) blockchains across multiple traditional financial and capital markets by utilizing Chainlink’s CCIP, which enables SWIFT messages to direct token transfers across practically every blockchain network.

In addition, over 11,000 banks are connected through the SWIFT interbank messaging system, and it is the most frequently utilized platform for conventional cross-border fiat transactions.

However, it can take several days for transactions on the SWIFT network to finalize; therefore, the company has been looking into DLT, blockchain technology, and central bank digital currencies (CBDCs) to allow faster payments.

Tags: ChainlinkLINKSWIFT
Favour Ajibade

Favour Ajibade

Favour Ajibade is a content writer and crypto lover from Nigeria who is passionate about introducing Web3 and cryptocurrency-based technologies to the world through writing. He was first introduced to crypto in 2020 and was immediately intrigued. He is a student biomedical researcher and enjoys spending his free time reading and learning new things.

Related Posts

Exterior view of the Czech National Bank building in Prague, symbolizing the institution’s financial strategies and innovation.

Bank of England Governor Says Stablecoins Could Reduce Reliance on Banks

October 1, 2025

Andrew Bailey says stablecoins could reduce UK reliance on commercial banks by separating money from credit, signaling a...

blockchain

Spacecoin Executes First Blockchain Transaction Through Space

October 1, 2025

Spacecoin has achieved the first-ever blockchain transaction through space using a nanosatellite, marking a milestone for decentralization and...

The headquarters of the Autorité des Marchés Financiers (AMF) Investor in Paris, France, the regulatory body warning investors against ByBit.

French Officials Pressured Telegram to Censor Moldova Election Posts: Durov

September 28, 2025

Pavel Durov revealed French intelligence pressured Telegram to censor Moldova election content in 2024, which he refused, citing...

Wall Street financial district with Bitcoin symbol representing institutional adoption

Bitcoin skepticism fades as nations gear up for adoption, says Samson Mow

September 28, 2025

Samson Mow predicts nation-states will move from skepticism to rapid Bitcoin adoption, fueling global FOMO and a rush...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • About Us
  • Advertise
  • BTC-PULSE
  • Contact Us
  • Events
  • Privacy Policy
  • Sitemap
  • Terms of Service