{"id":67854,"date":"2022-09-29T16:10:37","date_gmt":"2022-09-29T13:10:37","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=67854"},"modified":"2025-09-07T08:51:26","modified_gmt":"2025-09-07T05:51:26","slug":"chainlink-and-swift-to-develop-cross-chain-transaction-solution","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/chainlink-and-swift-to-develop-cross-chain-transaction-solution\/","title":{"rendered":"Chainlink and SWIFT to develop cross-chain transaction solution"},"content":{"rendered":"<p>The Chainlink decentralized oracle network team and SWIFT, the operator of the international interbank information-transfer system, have agreed to cooperate. The partners will develop a mechanism enabling traditional financial institutions to conduct cryptocurrency transfers.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">SWIFT is using the Cross-Chain Interoperability Protocol (CCIP) in an initial proof of concept.<\/p>\n<p>CCIP will enable SWIFT messages to instruct on-chain token transfers, helping the SWIFT network become interoperable across all blockchain environments.<a href=\"https:\/\/t.co\/8GOBNhzwCk\">https:\/\/t.co\/8GOBNhzwCk<\/a> <a href=\"https:\/\/t.co\/Pvm0Cex45e\">pic.twitter.com\/Pvm0Cex45e<\/a><\/p>\n<p>\u2014 Chainlink (@chainlink) <a href=\"https:\/\/twitter.com\/chainlink\/status\/1575185397755547649?ref_src=twsrc%5Etfw\">September 28, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The Cross-Chain Interoperability Protocol (CCIP) project will undergo pilot testing. The protocol will enable on-chain transfers of crypto assets to be instructed in interbank messages.<\/p>\n<p>SWIFT&#8217;s Chief Strategy Officer Jonathan Ehrenfeld-Sole noted that there is an undeniable interest among institutional investors in digital assets. He said that financial players want access to both digital and traditional instruments on a single platform.<\/p>\n<p>Chainlink co-founder Sergey Nazarov noted that CCIP will allow institutions to avoid replacing, developing and integrating new connections into aging systems. This comes with &#8220;exceedingly high&#8221; costs due to the need for substantial modifications.<\/p>\n<p>SWIFT<a href=\"https:\/\/en.wikipedia.org\/wiki\/SWIFT\"> \u043e\u0431\u044a\u0435\u0434\u0438\u043d\u044f\u0435\u0442<\/a> more than 11,000 financial institutions from over 200 countries. The system processes 32 million messages daily.<\/p>\n<p>In May 2022 the operator SWIFT<a href=\"https:\/\/forklog.com\/en\/news\/swift-to-test-cbdc-interoperability-in-cross-border-payments\"> announced<\/a> testing the cross-compatibility of various platforms <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-central-bank-digital-currency-cbdc\">CBDC<\/a> in cross-border payments.<\/p>\n<p>In November 2021 Nazarov<a href=\"https:\/\/forklog.com\/en\/news\/chainlink-chief-predicts-mass-institutional-influx-into-the-defi-sector-in-2022\"> predicted<\/a> a mass influx of institutional players into the DeFi sector in the current year.<\/p>\n<p> Read ForkLog&#8217;s bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Chainlink decentralized oracle network team and SWIFT, the operator of the international interbank information-transfer system, have agreed to collaborate. The partners will develop a mechanism enabling traditional financial institutions to conduct cryptocurrency transfers.<\/p>\n","protected":false},"author":1,"featured_media":67855,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,1388,116],"class_list":["post-67854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-chainlink-link","tag-swift"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/67854","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=67854"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/67854\/revisions"}],"predecessor-version":[{"id":67856,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/67854\/revisions\/67856"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/67855"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=67854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=67854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=67854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}