SWIFT Partners with Chainlink for Cross-Chain Crypto Transfer Project
The project will connect SWIFT's network to nearly all blockchains to enable traditional finance players to access digital assets and traditional on a single network.
New
Interbank messaging system SWIFT has teamed up with price oracle provider Chainlink (LINK) to work on a proof-of-concept (POC) project that would allow traditional financial firms to transact across networks blockchain.
Chainlink co-founder Sergey Nazarov announced the project at his SmartCon 2022 conference in New York on September 28 alongside SWIFT Chief Strategy Officer Jonathan Ehrenfeld Solé.
SWIFT is using the Cross-Chain Interoperability Protocol (CCIP) in an early proof of concept.
CCIP will enable SWIFT messages to order on-chain token transfers, helping the SWIFT network become interoperable across all blockchain environments.https://t.co/8GOBNhzwCk pic.twitter.com/Pvm0Cex45e< /p> — Chainlink (@chainlink) September 28, 2022
During the conference, Solé said that there was “undeniable interest from institutional investors in digital assets”, adding that these players in traditional finance want to access digital and traditional assets on a single platform. platform.
POC uses Chainlink's Cross-Chain Interoperability Protocol (CCIP) allowing SWIFT messages to order token transfers on almost any blockchain network, which Nazarov says will accelerate blockchain adoption of Distributed Ledger Technology (DLT) in Capital Markets and Traditional Finance.
The SWIFT interbank messaging system is the most widely used platform for traditional cross-border fiat transactions, connecting more than 11,000 banks around the world. In August, the system recorded an average of 44.8 million messages per day...
The project will connect SWIFT's network to nearly all blockchains to enable traditional finance players to access digital assets and traditional on a single network.
New
Interbank messaging system SWIFT has teamed up with price oracle provider Chainlink (LINK) to work on a proof-of-concept (POC) project that would allow traditional financial firms to transact across networks blockchain.
Chainlink co-founder Sergey Nazarov announced the project at his SmartCon 2022 conference in New York on September 28 alongside SWIFT Chief Strategy Officer Jonathan Ehrenfeld Solé.
SWIFT is using the Cross-Chain Interoperability Protocol (CCIP) in an early proof of concept.
CCIP will enable SWIFT messages to order on-chain token transfers, helping the SWIFT network become interoperable across all blockchain environments.https://t.co/8GOBNhzwCk pic.twitter.com/Pvm0Cex45e< /p> — Chainlink (@chainlink) September 28, 2022
During the conference, Solé said that there was “undeniable interest from institutional investors in digital assets”, adding that these players in traditional finance want to access digital and traditional assets on a single platform. platform.
POC uses Chainlink's Cross-Chain Interoperability Protocol (CCIP) allowing SWIFT messages to order token transfers on almost any blockchain network, which Nazarov says will accelerate blockchain adoption of Distributed Ledger Technology (DLT) in Capital Markets and Traditional Finance.
The SWIFT interbank messaging system is the most widely used platform for traditional cross-border fiat transactions, connecting more than 11,000 banks around the world. In August, the system recorded an average of 44.8 million messages per day...
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