SWIFT, Chainlink announce cross-chain interoperability partnership

SWIFT, Chainlink announce cross-chain interoperability partnership

Interbank messaging system SWIFT has partnered with crypto data provider Chainlink for an initial proof of concept to use cross-chain interoperability protocol (CCIP) for on-chain token transfers, Sergey Nazarov, Chainlink’s cofounder announced at the SmartCon 2022 conference on Wednesday.

Fast facts

  • The CCIP will enable communications and movement of tokens between institutions and help accelerate blockchain adoption in capital markets, Nazarov said.
  • More than 11,000 banks and financial institutions are connected to the SWIFT network.
  • The two had previously worked together to explore bond issuance and redemption, according to Jonathan Ehrenfeld Solé, Strategy Director at SWIFT, who was in a panel with Nazarov at the conference.
  • Chainlink’s LINK token was down over 8% in the past 24 hours to trade at US$7.75 at 10 pm Hong Kong time on Thursday, according to coinmarketcap.com.

This article was originally published on forkast.news

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