Chainlink Surges as Banking and Government Partnerships Fuel Price Rally
Chainlink's LINK token has surged nearly 50% in the past month, driven by partnerships with financial institutions and government entities. The price of LINK recently climbed above $12, bringing its market capitalization to around $9 billion and solidifying its position among the largest crypto assets.
The surge coincides with a broader crypto recovery but has also been supported by several developments involving Chainlink's infrastructure. One key partnership is with Bottomline, which provides payment technology used by over 600 banks that process more than $16 trillion in payments annually.
Through the agreement, Chainlink will provide an interoperability layer connecting existing payment systems with both public and private blockchains, allowing financial institutions to use ISO 20022 messages to interact with blockchain-based payment infrastructure without having to build separate connections for individual networks.
The U.S. Department of Commerce is also using Chainlink's infrastructure to make selected economic data available on-chain, including real gross domestic product and the personal consumption expenditures price index. This initiative could enable blockchain applications connected to Chainlink's infrastructure to access updated government economic data.