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LINK Bottomline and Chainlink collaborate to connect a network that processes US$16 trillion in annual payments to public and private chains
Bottomline has entered into a strategic partnership with Chainlink to connect its payment network, which processes more than US$16 trillion per year, to public and private blockchains. This initiative provides cross-chain and cross-border settlement paths for its more than 600 bank customers, while retaining the familiar ISO 20022 messaging standard.
Technical Architecture: CCIP and CRE work together
In this collaboration, Chainlink's Cross-Chain Interoperability Protocol (CCIP) will handle cross-chain interoperability, while the Chainlink Runtime Environment (CRE) coordinates payment workflows between existing banking systems and blockchain networks. With this dual-component support, Bottomline customers can access multiple public and private blockchains through a single network-independent connection without having to build separate infrastructure for each blockchain.
Specifically, banks participating in the service can use blockchain for settlement without replacing existing messaging systems. Payment instructions will continue to follow the ISO 20022 standard used by financial institutions to structurally exchange transaction information, while Chainlink's infrastructure is responsible for connecting instructions to the blockchain infrastructure needed to perform transactions across selected networks.
Maintain existing processes and reduce cross-border payment costs
Bottomline's cooperation model is designed to maintain existing systems that banks already use, rather than requiring financial institutions to migrate payment operations directly to a specific blockchain. For its more than 600 bank customers, Bottomline can retain existing messaging layers, while Chainlink plays a role between traditional payment infrastructure and the blockchain used for settlement.
Cross-border payments are one of the key target areas of this integration. Traditional cross-border transactions often require multiple intermediaries, resulting in extended settlement times and high transaction costs at each stage. According to the cooperation information provided, settlement of cross-border transactions may still take several days, and the fee may account for 5% or more of the transfer value. Chainlink and Bottomline provide an alternative settlement path that allows tokenized value to flow between blockchain networks, while banks retain their existing operating processes.
Institutional adoption rates and market prospects
Although technical connections have been established, neither party disclosed how many Bottomline banks will initially use the service, nor did it disclose the specific transaction volume, implementation timetable or list of banks using the blockchain connection. This means that while Bottomline handles more than $16 trillion in payments each year, it will be up to individual financial institutions to decide whether to move these funds onto the chain and how much transaction volume will be routed through the channel.
This cooperation is another important step for Chainlink to expand relationships with financial institutions. Previously, well-known financial institutions such as Swift, JPMorgan, and UBS have tested or used Chainlink's infrastructure for tokenized asset transfers, cross-chain settlements, and connections to existing financial systems. For example, in the "Project Pangea" project, more than 50 financial institutions, including Europe and South Korea, participated, managed more than US$10 trillion in assets, focusing on foreign exchange trading and T+0 instant settlement.
As tokenization projects move from the testing phase to the production phase, customers in non-crypto native markets are expected to become a significant part of Chainlink's revenue. It is estimated that by 2030, the potential tokenized asset market will reach US$16 trillion. This cooperation by Bottomline provides new infrastructure support for institutional-level tokenized payments, allowing it to access the broad blockchain ecosystem at lower cost and complexity.
