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LINK Connecting traditional finance and blockchain infrastructure
As one of the world's leading SWIFT service providers, Bottomline has partnered with @Chainlink to include the on-chain settlement capabilities of more than 600 financial institutions in its network. This cooperation integrates Chainlink's two core technologies: Cross-Chain Interoperability Protocol (CCIP) and Chainlink Runtime Environment (CRE), building a direct bridge between traditional payment infrastructure and public and private blockchain networks.
Under the arrangement, member banks will be able to use the ISO 20022 message format-the international standard for financial data exchange-to settle tokenized assets through a unified gateway. Bottomline's deep expertise in compliance frameworks, including familiarity with SWIFT and ISO 20022 standards, makes it an ideal partner for a technical collaboration aimed at retaining familiar banking workflows while adding blockchain settlement capabilities on the back end.
Chainlink's growing influence
Chainlink's CCIP allows different blockchains to communicate with traditional systems, which is crucial for any financial institution that wants to use blockchain but does not want to be locked into a single chain. Since its launch on the main network in July 2023, CCIP has evolved from a roadmap project to a fully operational protocol, currently connecting more than 60 blockchain networks and providing critical infrastructure for decentralized finance and institutional adoption.
Bottomline's deal is in line with Chainlink's broader strategy of embedding itself into the global financial infrastructure. The most prominent example of this strategy is the "Pangea Plan", which involves more than 50 banking institutions in Europe and South Korea. The goal is to achieve T+0 settlement of foreign exchange transactions, and participating banks jointly manage more than US$10 trillion in assets. JPMorgan Chase, ANZ Bank, UBS Asset Management and the Hong Kong Monetary Authority are also using CCIP to perform cross-chain clearing, tokenized fund management and cross-border payment transactions in regulated environments.
This cooperation has practical significance for Bottomline's bank customers. Institutions do not need to rebuild their core payment infrastructure, only need to route existing SWIFT messages through Chainlink's protocol to trigger on-chain settlements. Banks can access the underlying infrastructure of the blockchain without having to tear down and replace the SWIFT system: banks send ordinary SWIFT messages, Chainlink CCIP receives them, converts them into cross-chain messages, and settles tokenized assets.
As the tokenized asset market matures, more and more institutions are adopting Chainlink's cross-chain stack. It is expected that by 2030, the tokenization market will reach US$16 trillion, and infrastructure connecting traditional finance and on-chain settlement has become the focus of competition for Bottomline-scale payment networks.
