Chainlink Enhances SWIFT Integration Connecting 11,500 Banks to Blockchains

Chainlink is enhancing its role in SWIFT’s blockchain integration, leveraging technology to connect over 11,000 banks with various blockchains. This development positions Chainlink favorably for real-world adoption.

Key Developments

SWIFT utilizes Chainlink technology for data and transaction flows across multiple blockchains.
Chainlink collaborates with major financial entities including DTCC, Mastercard, and central banks.
11,500 SWIFT-affiliated lenders are being linked to public and private blockchain networks.
Chainlink's market cap stands at $14 billion compared to XRP’s $188 billion.
Chainlink has been partnering with SWIFT since 2016, with recent advancements accelerating this collaboration.
Successful tests demonstrated tokenized asset transfers between chains with BNY Mellon and BNP Paribas in May 2023.

The discourse also involves differing perspectives on the effectiveness of each technology, with some Ripple supporters asserting their technology's practical applications while questioning Chainlink's real-world deployment.