Chainlink Surges Amid New Partnership with SWIFT Provider
- Bottomline, a top-three SWIFT services provider, announced a partnership with Chainlink to connect over 600 banks to blockchain settlement.
- Chainlink’s token, LINK, reached $13.64 on September 7, marking its highest price since January and outperforming other top-10 cryptocurrencies by market cap.
- The Cross-Chain Interoperability Protocol (CCIP) and Chainlink Runtime Environment (CRE) will facilitate the movement of tokenized value across blockchains for Bottomline’s clients.
- Open interest in LINK derivatives hit an eleven-month high of $784 million as the market reacted to the news.
This partnership allows Bottomline’s banking clients to leverage blockchain technology without needing new infrastructure, using Chainlink’s existing protocols for seamless integration. The announcement has significantly boosted LINK’s market performance compared to other major cryptocurrencies.
The strategic move by Chainlink and Bottomline highlights the growing trend of integrating traditional financial systems with blockchain solutions, driving increased interest and investment in Oracle technologies like Chainlink’s CCIP and CRE. (Source)
