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The Chainlink team and SWIFT have agreed to cooperate. The partners will develop a mechanism that will allow traditional financial institutions to make cryptocurrency transfers. Cross-Chain Interoperability Protocol (CCIP), being developed as part of the collaboration, will undergo pilot testing. The protocol will allow in the messages of the interbank system to submit instructions for the on-chain transfer of crypto assets.
This will help accelerate the adoption of distributed ledger technology (DLT) blockchains and will benefit various institutions in the capital markets, Chainlink co-founder said. Sergey Nazarov at SmartCon 2022 in New York on Wednesday.
SWIFT Strategy Director Jonathan Ehrenfeld Sole noted that there is “an undeniable interest of institutional investors in digital assets.” According to him, financial players want access to digital and traditional tools on the same platform.
Image: Coincu News
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