Chainlink, a decentralized oracle network, has introduced a new blockchain payment solution designed for financial institutions. This innovation is part of a collaboration with Swift, the global messaging system widely used by banks and other institutions.
The new integration allows financial institutions to use their existing Swift infrastructure to interact with blockchain technology, enabling digital asset settlements with minimal changes to their current systems. This move creates a bridge between traditional finance (TradFi) and decentralized finance (DeFi), making it easier for financial entities to adopt blockchain technology without overhauling their processes.
Summary Review: Chainlink and Swift have teamed up to introduce a blockchain integration that simplifies digital asset settlement for financial institutions. This new solution allows banks to interact with blockchain using Swift’s existing messaging infrastructure, minimizing changes while linking traditional finance to decentralized finance.
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