Chainlink co-founder Sergey Nazarov announced at the Sibos 2024 conference that the integration of traditional payment system Swift with blockchain technology has reached a production-ready stage. This collaboration between Chainlink and Swift allows financial institutions to use Swift's infrastructure for blockchain transactions without overhauling their current operations. The system operates through a pre-settlement phase using Swift messages and then converts them into on-chain events through Chainlink. Financial institutions can now begin real-world testing of this integration, which supports tokenized funds, real-world assets, and Central Bank Digital Currencies. Although this announcement has not had a positive impact on the market value of Chainlink's native asset, LINK, Nazarov emphasized that the product is ready for integration and a demo system is available at Chainlink's booth at Sibos.



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