### Swift and Chainlink have joined forces to tackle the challenge of blockchain interoperability. The collaboration aims to enhance asset management and trading efficiency by enabling seamless connectivity between public and private blockchain networks.

<blockquote className="twitter-tweet"><p lang="en" dir="ltr">Chainlink is working with <a href="https://twitter.com/swiftcommunity?ref_src=twsrc%5Etfw">@swiftcommunity</a> and more than a dozen major financial institutions on experiments to enable connectivity to and interoperability across public and private blockchains: <a href="https://t.co/TphsIU6A3O">https://t.co/TphsIU6A3O</a> <br /> <br />These experiments are a significant step forward from the… <a href="https://t.co/6UEvp22LM9">pic.twitter.com/6UEvp22LM9</a></p>— Chainlink (@chainlink) <a href="https://twitter.com/chainlink/status/1666056661155434501?ref_src=twsrc%5Etfw">June 6, 2023</a></blockquote> 



Swift will use its extensive network and interbank messaging system to conduct trials of blockchain interoperability via links established between participating institutions. Experiments to verify the viability of using Swift's connectivity are being conducted with the participation of major financial institutions like ANZ, BNP Paribas, BNY Mellon, Citi, and Lloyds Banking Group.



Connectivity between public and private blockchains is provided through Chainlink's Cross-Chain Interoperability Protocol (CCIP). Tokenized assets can be transferred without any friction between blockchains because of the protocol's role as an enterprise abstraction layer.



Transfers within a public blockchain network, transfers to a permissioned blockchain, and transfers across public blockchains are the three use cases that will be demonstrated through the partnership. These examples demonstrate the possibility for improved methods of asset management and trading.



For the cryptocurrency industry as a whole, the participation of large financial institutions is a huge deal. Since banks control a sizable portion of the world's capital, their involvement is essential in propelling the sector forward. Efficiency, lower costs, increased investor interest, and higher liquidity are just some of the benefits that could result from implementing blockchain technology in the capital markets.

Swift and Chainlink have joined forces to tackle the challenge of blockchain interoperability. The collaboration aims to enhance asset management and trading efficiency by enabling seamless connectivity between public and private blockchain networks.

Sun Jul 23 2023

Finance Giants Embrace Blockchain Harmony: Swift And Chainlink Lead Interoperability Testing Initiative

Binance Users SWIFT Transactions Have Been Limited

Binance Users SWIFT Transactions Have Been Limited

Sun Jul 23 2023 Finance Giants Embrace Blockchain Harmony: Swift And Chainlink Lead Interoperability Testing Initiative

Binance Users SWIFT Transactions Have Been Limited

Binance Users SWIFT Transactions Have Been Limited

Sun Jul 23 2023

Finance Giants Embrace Blockchain Harmony: Swift And Chainlink Lead Interoperability Testing Initiative