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SWIFT Partners With Chainlink to Help Bridge TradFi Institutions with Digital Assets

Coindesk | Aoyon Ashraf  | Sep 28, 2022

global digital network - SWIFT Partners With Chainlink to Help Bridge TradFi Institutions with Digital Assets

SWIFT, the interbank messaging system that allows for cross-border payments, is working with Chainlink, a provider of price feeds and other data to blockchains, on a cross-chain interoperability protocol (CCIP) in an initial proof-of-concept.

  • CCIP will enable SWIFT messages to instruct on-chain token transfers, helping the interbank network to be able to communicate across all blockchain environments.
  • The partnership between Chainlink and SWIFT in cross-chain interoperability will help bridge the gap between traditional and digital assets for TradFi institutions, he added. Chainlink's native token is LINK.
  • This will help accelerate the adoption of distributed ledger technology (DLT) blockchains and benefit various institutions across capital markets, Chainlink co-founder Sergey Nazarov said at the SmartCon 2022 conference in New York City on Wednesday.

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SWIFT’s Strategy Director Jonathan Ehrenfeld Solé:

One of the reasons working with Chainlink on CCIP has been successful is that there is “undeniable interest” in crypto from institutional investors. Traditional finance (TradFi) players want access to various digital and traditional assets on one network that can connect different types of asset classes.


NCFA Jan 2018 resize - SWIFT Partners With Chainlink to Help Bridge TradFi Institutions with Digital AssetsThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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