The successful facilitation of several blockchain interoperability tests with numerous financial organizations, including Citi, SIX Digital Exchange (SDX), BNP Paribas, and BNY Mellon has been revealed by the global financial messaging network Swift, according to CryptoPotato. In order to conduct these tests, Swift used Chainlink’s Cross-Chain Interoperability Protocol (CCIP). These tests are a component of the company’s larger plan to guarantee safe, worldwide interoperability as new technologies and platforms are developed. The experiments expand on earlier work to show how Swift’s infrastructure may assist the financial sector in linking Central Bank Digital Currencies (CBDCs) and other digital assets with new and existing payment systems.
The change comes after Chainlink and Swift said in June that they will engage with many financial institutions to see whether it would be feasible to integrate with other blockchain networks. In response to the most recent development, Swift’s Chief Innovation Officer, Tom Zschach, stated that interoperability is at the heart of Swift’s efforts to enable the frictionless flow of value across the globe in the face of growing fragmentation. The studies, he continued, have demonstrated that the current Swift infrastructure can serve as a hub for connectivity, removing a major barrier to the growth of tokenization.
The co-founder and acting CEO of the Oracle supplier, Sergey Nazarov, noted that the goal of the CCIP launch was to establish the protocol as the new benchmark for cross-chain interoperability.
