Chainlink (LINK), the 14th largest cryptocurrency by market capitalization, has witnessed a significant surge in its price, rising over 8.89% in the past 24 hours and trading at $18.61, according to Coinmarketcap data.
This rally is attributed to the anticipation surrounding Chainlink’s collaboration with Swift, the international payments platform, at the upcoming Consensys conference in Austin, Texas.
Chainlink has stated that this partnership proves that existing infrastructure can merge with the new world of blockchains. Earlier this month, the Depository Trust & Clearing Corporation (DTCC), the largest settlement and clearinghouse in the U.S., announced a tokenization pilot involving Wall Street giants JP Morgan and BNY Mellon. This pilot called Smart NAV leveraged Chainlink’s decentralized cross-chain communication to allow institutional investors on Wall Street to share mutual fund information to public networks.
Chainlink remains engaged in a process of decentralization networks, such as Ethereum, Arbitrum, Polygon, and Base. The project network has advanced in nine blockchains growing in the DeFi industry.
Chainlink project co-founder Sergey Nazarov expressed optimism for Ethereum and digital assets following the historic approval of Ethereum exchange-traded funds (ETFs). He said this is just the start, showing a clear trend towards wider use of digital assets in global capital markets.
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