Chainlink Launches Cross-Chain Protocol for Interoperability

Chainlink Launches Cross-Chain Protocol for Financial Interoperability

Chainlink has launched its Cross-Chain Interoperability Protocol (CCIP), allowing for seamless data and value transfers between public and private blockchains. The protocol is currently live on Ethereum, Avalanche, Polygon, Arbitrum, and Optimism, with testnet access available to developers on July 20. CCIP utilizes Swift's messaging infrastructure, used by over 11,000 banks worldwide, to enable international payments and settlements. Major financial institutions like BNY Mellon, BNP Paribas, and Citi are exploring Chainlink's interoperability solution, while decentralized finance platforms AAVE and Synthetix are set to implement it. The Chainlink token (LINK) experienced a 9.7% price increase to $7.27.