Chainlink-Powered Global Pay Connect Revolutionizes Cross-Border Payments

Chainlink's infrastructure has been used to launch Global Pay Connect, an onchain payment connectivity platform developed by Bottomline. The platform gives over 600 banks and their customers across 92 countries a path to blockchain-based payments without needing to replatform existing systems.

The Cross-Chain Interoperability Protocol (CCIP) connects Bottomline's payments infrastructure to various blockchain networks through a single integration model, while the Chainlink Runtime Environment (CRE) coordinates payment workflows between onchain and offchain systems.

Global Pay Connect supports multiple domestic and international payment rails, including SEPA for the euro area, Bacs and CHAPS for the UK, SIC for Switzerland, and others. It also enables direct host-to-host connections between banks and businesses.

The launch of Global Pay Connect follows a partnership announcement by Bottomline and Chainlink earlier this month. The platform's live transactions are expected to settle quickly, but neither company has disclosed which banks will use the service first or when initial transactions will settle through it.