Chainlink Surges as Partnership with SWIFT Services Provider Sends Token Price Soaring

Chainlink's native token, LINK, has been making waves in the crypto market, surging to its highest price since January 18 at $13.64 on September 7. This significant gain of 6.8% in just 24 hours outpaced every other top-10 cryptocurrency by market cap.

Meanwhile, Bitcoin remains stuck below $80,000, down about 1% from the previous day. Analysts are debating whether this is a trend reversal or a Bart Simpson pattern that could send prices plummeting back to around $65,000 in just a few days.

The recent price action can be attributed to several key developments. Bottomline, a top-three SWIFT services provider, has partnered with Chainlink to connect its 600-plus bank customers to blockchain settlement. This deal will enable banks to move tokenized value across blockchains using CCIP and orchestrate payment workflows with CRE.

Chainlink's infrastructure sits beneath the existing ISO 20022 messages used by banks for cross-border payments, eliminating the need for new infrastructure. This is not Chainlink's first brush with SWIFT, as they have previously collaborated on interoperability experiments.