Payment service provider Bottomline has launched Global Pay Connect, an onchain payment connectivity platform supported by Chainlink, according to an announcement from Chainlink. The platform is aimed at more than 600 banks and is designed to link existing banking payment infrastructure with blockchain networks.
Chainlink said its Cross-Chain Interoperability Protocol, or CCIP, connects Bottomline’s payment infrastructure to blockchain networks, while CRE coordinates end-to-end payment flows across onchain and offchain environments. The setup is intended to let financial institutions access onchain payment rails without rebuilding their systems or carrying out separate integrations for each network.
Instead, banks can connect through their existing Swift network infrastructure and payment messaging standards. Chainlink also said Bottomline is one of the top three Swift service providers and processes more than $16 trillion in payments annually.
Chainlink said payment service provider Bottomline has launched Global Pay Connect, an onchain payment connectivity platform supported by Chainlink and aimed at more than 600 banks.
According to the announcement, Chainlink’s Cross-Chain Interoperability Protocol (CCIP) connects Bottomline’s payment infrastructure to blockchain networks, while CRE coordinates end-to-end payment flows between onchain and offchain systems.
The arrangement allows financial institutions to access onchain payment rails without rebuilding their systems or carrying out separate integrations for each network. They can instead connect through their existing Swift network infrastructure and payment messaging standards.
Chainlink said Bottomline is one of the top three Swift service providers and handles more than $16 trillion in annual payment volume.
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