SWIFT will leverage Chainlink’s cross-chain interoperability protocol (CCPI) to facilitate token transfers across the blockchain.
The development seeks to bridge the gap between traditional finance (TradFi) and decentralized finance (DeFi).
On Wednesday, September 28, the world’s largest interbank payments system SWIFT announced that it is working with price feeds provider Chainlink on a cross-chain interoperability protocol (CCPI) in an initial proof-of-concept.
Chainlink’s Cross-Chain Interoperability Protocol allows for token transfers across blockchains along with the development of cross-chain applications. Thus, CCIP will allow SWIFT messages to facilitate on-chain token transfers. This will also help the interbank network to communicate across all blockchain environments.
Speaking at the SmartCon 2022 conference in New York City on Wednesday, Chainlink co-founder Sergey Nazarov said that the recent step will boost the adoption of distributed ledger technology (DLT)...
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