Chainlink Teams Up with Bottomline to Bridge Blockchain and Traditional Banking

Chainlink has partnered with Bottomline, one of the largest providers of payment services for SWIFT, to integrate its blockchain infrastructure with traditional banking systems. The collaboration will enable banks to connect to public and private distributed ledgers through a single infrastructure while maintaining compatibility with existing banking systems.

The integration relies on two Chainlink components: Cross-Chain Interoperability Protocol (CCIP) and Chainlink Runtime Environment (CRE). CCIP enables securely transferring tokenized assets and data between different blockchain networks, while CRE coordinates the entire payment process and interactions between traditional systems and blockchains.

As a result of this partnership, Bottomline will be able to support cross-chain and cross-border transactions without requiring banks to abandon the familiar ISO 20022 standard. Financial institutions can continue using their existing data exchange format and gain access to blockchain payment infrastructure through a single connection.