Chainlink, Swift, and Remittix Bring Institutional Blockchain Connections to the Bank

Chainlink and Swift have been working together to create a system for institutional blockchain connections, making it easier for messages and assets to move across established and on-chain infrastructure.

However, for the end-user, a major hurdle still exists: how to convert cryptocurrency into spendable fiat that can be deposited into a bank account.

Remittix, a PayFi service, is testing a solution to this problem, allowing users to convert supported cryptocurrencies into fiat that can be transferred to a bank account.

Remittix has given 1,000 existing RTX holders access to test the service, which currently supports EUR and USD transfers. The project aims to make the process of converting cryptocurrency into fiat seamless and easy to repeat.