The crypto world is constantly evolving, and this time Chainlink is in the headlines. LINK’s value increased by as much as 10% as a result of the new cooperation. The key was the important cooperation with the SWIFT company. The founders also see the launch of the Ethereum Spot Exchange-Traded Fund (ETF) as a positive addition to the crypto industry.
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Chainlink and SWIFT join forces
Chainlink, a decentralized oracle network, recently announced a strategic partnership with SWIFT. The company is a global provider of secure financial reporting. The goal of this collaboration is to improve the efficiency and security of cross-border payments using Chainlink’s blockchain technology.
This integration allows financial institutions to benefit from faster and cheaper transactions. This is a huge step forward for the global financial infrastructure.
SWIFT was established in 1973 and stands for “Association for Global Interbank Financial Telecommunications‘. The company, headquartered in Belgium, is an organization used worldwide for the secure exchange of financial messages between banks and other financial institutions.
Last Monday, Chainlink with the cryptocurrency chain link (LINK) was the best performing coin among the top 40 in terms of market capitalization. The coin is built on the Ethereum network and is designed to securely transfer data to and from the blockchain.
Crypto projects are increasingly building bridges with the traditional financial world
The parties’ joining forces was announced at the Consensys conference in Austin, Texas. This is likely the reason why crypto was in the green on Monday. The international payment platform is a major player in the financial world. Chainlink said the partnership proves that “existing infrastructure can merge into the new world of blockchains.”
In doing so, Chainlink co-founder Sergey Nazarov continues the collaboration between traditional financial institutions and the world of blockchain technology. He sees the listed ethereum fund (ETH) as a significant positive development:
“It’s a sign of a very clear trend that not just Bitcoin (BTC), not just ETH, but many other tokens in the world will eventually get their own ETF at some point, allowing the larger global capital markets to interact with that financial product. .”
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