Chainlink To Test Connecting Blockchain Networks
According to a press release issued on Tuesday, Swift, the interbank messaging system, and Chainlink (LINK), a distributor of real-world data to blockchains, will collaborate with dozens of financial institutions to evaluate how they can interact with numerous blockchain networks.
Swift will collaborate with large traditional financial institutions such as the Depository Trust and Clearing Corporation (DTCC), Australia and New Zealand Banking Group Limited (ANZ), BNP Paribas, BNY Mellon, Citi, Clearstream, Euroclear, and Lloyds Banking Group in a new series of tests. According to the press release, the purpose is to evaluate how these institutions can leverage Swift’s architecture to instruct the transfer of tokenized assets across blockchains.
According to the release, Chainlink will allow connectivity across both public and private blockchains for these projects. Swift and Chainlink announced their collaboration last year during Chainlink’s annual conference SmartCon.
(With inputs from Shikha Singh)
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