Chainlink Connects Banks to Swift Blockchain Ledger with Control Over Keys
Chainlink has established a connection framework that enables financial institutions to access Swift's blockchain ledger while retaining control over their transaction-signing keys.
The Chainlink Runtime Environment (CRE) coordinates workflows between institutional systems and the shared ledger, allowing banks to manage smart-contract activity across their own tokenized-deposit ledgers and Swift's blockchain infrastructure.
Banks can continue using their internal governance and approval processes when authorizing transactions through the connection framework, according to Chainlink.
The relationship between Chainlink and Swift has been ongoing for several years, with previous work focusing on institutional blockchain interoperability. The latest development extends this collaboration to provide financial institutions with a controlled access layer to Swift's blockchain ledger.