Chainlink ($LINK ) is developing infrastructure to connect banks to Swift.
Chainlink is working on infrastructure that will allow financial institutions to connect their own systems and authorization keys to the Swift blockchain ledger. For this, the company uses the Chainlink Runtime Environment (CRE), which is being developed as a coordination tool for operations between bank registries of tokenized deposits and the Swift ledger.
It is expected that this model will enable banks in the future to carry out tokenized cross-border payments 24/7, including at night and on weekends. At the same time, institutions will retain control over cryptographic keys and current security procedures. The tokenized deposits themselves will remain in the banks’ registries, while Swift will coordinate the movement of funds between participants.
Implementing such an infrastructure solution should simplify the future onboarding of banks to the tokenized Swift payment system.
For Chainlink ($LINK ), this is another step toward integrating blockchain technology with the traditional financial system.
#Chainlink #LINK.
Chainlink is working on infrastructure that will allow financial institutions to connect their own systems and authorization keys to the Swift blockchain ledger. For this, the company uses the Chainlink Runtime Environment (CRE), which is being developed as a coordination tool for operations between bank registries of tokenized deposits and the Swift ledger.
It is expected that this model will enable banks in the future to carry out tokenized cross-border payments 24/7, including at night and on weekends. At the same time, institutions will retain control over cryptographic keys and current security procedures. The tokenized deposits themselves will remain in the banks’ registries, while Swift will coordinate the movement of funds between participants.
Implementing such an infrastructure solution should simplify the future onboarding of banks to the tokenized Swift payment system.
For Chainlink ($LINK ), this is another step toward integrating blockchain technology with the traditional financial system.
#Chainlink #LINK.
