Band Protocol

#chainlinkpowersbottomlinepaymentplatform ​Bottomline, the third largest SWIFT participant in the world processing over $16 TRILLION in payments per year, has announced the launch of a blockchain powered payment platform called Global Pay Connect backed by Chainlink. ​This move is transformative for institutional adoption of crypto: ​600+ Banks On-Chain: The partnership will enable these 600+ banking institution clients of Bottomline to access a blockchain-based payment infrastructure solution. ​Powered by LINK: The companies leverage Chainlink's CCIP (Cross-Chain Interoperability Protocol) to power value transfers of tokenized assets on-chain, and Chainlink's CRE (Chainlink Runtime Environment) to govern the intricate payment processes involved. ​Frictionless Onboarding for Institutions: The companies enable banks to send payment instructions using the familiar ISO 20022 messaging standard, while Chainlink handles the intricate on-chain processing in the background. ​Revolutionizing Cross-Border Payments: This partnership catalyzes the latter's ability to offer real-time settlement of cross-border payments, reducing both the time and costs of such transfers significantly. ​The combination of production-grade financial infrastructure and the on-chain economy powered by Chainlink is truly revolutionary. It shows that legacy financial infrastructure does not have to be at odds with the blockchain economy, but can instead power it. ​🤔 What are your thoughts about this development? Is this the dawn of the golden age of institutional onboarding to Web3? Let's discuss in the comments below! 👇 ​$LINK #Chainlink #CryptoNews #Web3 $ETH $ARB