Chainlink Teams with SWIFT to Tap into 11,500 Financial Institutions

Chainlink (LINK) has made a significant move into traditional finance by teaming up with SWIFT to enable banks to connect to its blockchain ledger.

The deal allows financial institutions to use Chainlink's Runtime Environment (CRE) to connect their systems and transaction-signing infrastructure to the SWIFT ledger, giving them access to tokenized deposits and 24/7 cross-border payments.

SWIFT's network covers over 11,500 financial institutions and corporates across 200 markets, but not all of them are adopting Chainlink. Chainlink Labs CEO Sergey Nazarov said the company is 'thrilled to be supporting the SWIFT ledger' as more banks explore tokenized deposits and look for ways to connect to the network.

Chainlink also launched CCIP 2.0, an updated version of its Cross-Chain Interoperability Protocol, which adds new transaction verification options, compliance controls, and customizable transfer settings. The protocol now secures over $84 billion in cross-chain assets, with over $15 billion migrating to the protocol in the past four months.