Chainlink and Bottomline Team Up for Cross-Chain Payments
A leading SWIFT service provider, Bottomline, has partnered with Chainlink to simplify on-chain payments for its bank clients. This collaboration aims to connect hundreds of banks to blockchain networks by leveraging their existing payment systems.
Bottomline handles enormous payment volumes, processing over $16 trillion in transactions annually. The partnership seeks to turn familiar bank workflows into a gateway for on-chain settlement without requiring significant changes or upgrades to the existing infrastructure.
The integration will allow banks to send value across public and private chains using their existing ISO 20022 messaging standard. Chainlink's Cross-Chain Interoperability Protocol (CCIP) and Runtime Environment (CRE) will act as a translation layer and coordinator, enabling safe tokenized value transfers between different networks.
This partnership marks a significant step towards connecting traditional finance to tokenized markets while preserving the operational backbone of global payments. The collaboration builds on earlier work between Chainlink and the SWIFT community, which demonstrated the feasibility of using SWIFT messages to instruct transfers of tokenized assets across public and private networks.