Chainlink launches cross-chain protocol linking blockchain to TradFi

Several major banks around the world are already collaborating with Chainlink to explore applications for the cross-chain interoperability protocol.

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The development company behind the Chainlink protocol and its native LINK token has released its cross-chain protocol, aiming to provide interoperability between traditional financial firms and public and private blockchains.

In a July 17 post on Chainlink's blog, Kemal El Moujahid, Chief Product Officer of Chainlink Labs, announced that its Cross-Chain Interoperability Protocol (CCIP) has launched in early access on Ethereum, Avalanche , Polygon, Arbitrum and Optimism.

Developers of these platforms will have access to CCIP on their respective testnets on July 20.

1/ The Chainlink Cross-Chain Interoperability Protocol (CCIP) has officially launched on the Avalanche, Ethereum, Optimism and Polygon mainnets.#LinkTheWorld peak. twitter.com/SdLVyaapg3

— Chainlink (@chainlink) July 17, 2023

CCIP is an interoperability protocol that allows companies to transfer data and value between public or private blockchain environments directly from their backend systems.

Chainlink's interoperability solution uses Swift's messaging infrastructure, which is used...