Interbank messaging system SWIFT has partnered with price oracle provider Chainlink to work on a proof-of-concept (PoC) project which would allow traditional finance firms the ability to transact across blockchain networks.
Chainlink co-founder Sergey Nazarov announced the project at its SmartCon 2022 Conference in New York on Sept. 28 alongside SWIFT strategy director Jonathan Ehrenfeld Solé.
SWIFT is using the Cross-Chain Interoperability Protocol (CCIP) in an initial proof of concept.
CCIP will enable SWIFT messages to instruct on-chain token transfers, helping the SWIFT network become interoperable across all blockchain environments.https://t.co/8GOBNhzwCk pic.twitter.com/Pvm0Cex45e
— Chainlink (@chainlink) September 28, 2022
At the conference, Solé said there is “undeniable interest from institutional investors into digital assets,” adding these traditional finance players want access to digital and traditional assets on one platform.
The PoC utilizes Chainlink’s cross-chain...
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