Chainlink, a Web3 services provider, has partnered with SWIFT, the global interbank messaging giant, to successfully facilitate tokenized asset transfers across multiple blockchain platforms. This breakthrough has the potential to remove obstacles slowing down the growth of the global tokenized asset market. The collaboration was announced last June, involving firms like BNP Paribas, BNY Mellon, Lloyds Banking Group, and The Depository Trust & Clearing Corporation. Chainlink’s Cross-Chain Interoperability Protocol (CCIP) was crucial for these tests, connecting different blockchains effectively.The experiment’s significance was highlighted by Tom Zschach, the Chief Innovation Officer at SWIFT, who said that their secure and trusted infrastructure can act as a pivotal connection point, essentially breaking down one of the biggest barriers to tokenization. Regulatory transparency and data privacy are imperative for the sustainable growth of tokenized assets.The results of these trials have laid down a blueprint showing that SWIFT can be a unified gateway for multiple blockchain networks, using its existing, secure infrastructure. Chainlink’s Sergey Nazarov emphasized the significance of the breakthrough, stating that interoperability across chains is critical to catalyzing the next stage of digital asset adoption across the financial system.Citi, an investment bank, has projected the tokenization market to soar between $4 trillion and $5 trillion by the end of this decade. This growth estimate adds credence to the idea that Chainlink’s LINK could be a phenomenal investment vehicle. SWIFT is committed to ongoing exploration of blockchain technologies, especially focusing on public permissioned ledgers. This aligns well with its mandate to ensure robust interoperability in a financial world that is becoming increasingly fragmented.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | positive |
| Relevance Score | 9 |
| People | Tom Zschach, Lloyds Banking Group., BNY Mellon, BNP Paribas, Sergey Nazarov |
| Companies | BNY Mellon, Lloyds Banking Group, BNP Paribas, SWIFT, eToro, The Depository Trust & Clearing Corporation |
| Currencies | Chainlink, US Dollar, Euro, Ethereum, Bitcoin |
| Securities | None |
