Chainlink signs million-dollar partnership and collaboration with SWIFT strengthens blockchain integration

Amid the constant growth and evolution of the cryptocurrency market, Chainlink, renowned for its decentralized oracle service, sealed an unprecedented partnership with the colossal bank of Australia and New Zealand, ANZ, which boasts assets of 670 billion dollars.

This remarkable union materialized after an in-depth case study involving Chainlink’s innovative technology, the Cross-Chain Interoperability Protocol (CCIP). The highlight of this investigation revealed a revolutionary possibility: stablecoins launched by ANZ bank can be transferred between different blockchains, through CCIP, to acquire nature-backed assets.

In a joint article between Chainlink Labs and ANZ, the disruptive power of CCIP was highlighted, indicating its ability to be the decisive impetus for institutions to adopt tokenized assets. This protocol can transform the user experience, simplifying interaction with digital assets. All this, without forcing drastic changes to the current infrastructure of financial institutions.

It is interesting to highlight that this is not the first foray of large institutions into the world of cryptocurrencies through Chainlink. In June, the renowned SWIFT network, a global financial communications system, revealed that it was exploring blockchain interoperability together with several financial institutions, all under the umbrella of the Chainlink network.

Sergey Nazarov, the mind behind Chainlink, recently expressed his excitement about the SWIFT collaboration in an interview with CNBC. He highlighted that “all main objectives were successfully achieved”. The result? The ability to use SWIFT messages, a widely adopted banking standard, to initiate blockchain events via CCIP. This achievement also includes connecting different private bank blockchains for mutual transactions and the ability to interact with contracts on public blockchains, such as DeFi.

This scenario indicates a promising future for the integration between large financial institutions and the world of cryptocurrencies, paving the way for a more connected and innovative financial era.

At the time of publication, the price of LINK was quoted at US$7.82, down 3% in the last 24 hours.

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