How Chainlink is propelling crypto and DeFi in 2023.

In 2023, Chainlink has become one of the main pillars of the evolution of DeFi. This crypto platform has indeed established fruitful partnerships with renowned banks and various financial players. These collaborations have generated innovative solutions, transforming the way transactions and assets are managed globally.

Institutional Adoption Recap: 5 Ways Chainlink Drove the Adoption of Onchain Finance in 2023

1. Swift

Swift, the standard messaging network for 11K banks, collaborated with Chainlink and some of the world’s largest banks and infrastructures—including Euroclear, Clearstream,… pic.twitter.com/3KiAT8VH4x

— Chainlink (@chainlink) January 9, 2024

Chainlink creates a fruitful collaboration with banks

Swift, the standard messaging network for 11,000 banks, has worked with Chainlink as well as some of the biggest banks and infrastructures in the world. Notably:

• Euroclear,
• Clearstream,
• BNP Paribas,
• BNY Mellon,
• Citi.

The goal: to create a solution that enables connecting multiple crypto blockchains in a secure and scalable manner.

ANZ Bank used Chainlink’s CCIP (Cross-Chain Interoperability Protocol) to carry out a cross-border and cross-chain purchase of tokenized crypto assets. This major Australian bank launched two stablecoins: A$DC and NZ$DC, both pegged to the Australian dollar and the New Zealand dollar, respectively.

Chainlink diversifies the use cases of crypto and DeFi with other financial players

DTCC explored with Chainlink how oracles can enhance the efficiency and transparency of settlement and clearing processes. DTCC is considered the largest securities settlement system in the world, processing over 2 quadrillion dollars annually.

Vodafone has integrated Chainlink into its global commerce platform based on the Economy of Things, enabling the connection of data and smart contracts across different networks.

Vodafone is a telecommunication operator relied upon by over 350 million customers, 160 million IoT devices, and 7 million organizations worldwide.

Last but not least, ARTA TechFin has used Chainlink’s decentralized computing crypto platform to bring advanced features and transparency to its fund tokens.

Chainlink has undoubtedly shaped the landscape of crypto and DeFi in 2023. It remains to be seen if it will continue to set the pace this year!