India-based technology company Infosys has partnered with this altcoin! Here are the details

Infosys, an India-based information technology services and consulting company, has partnered with blockchain infrastructure provider Chainlink. Infosys, valued at approximately $40 billion, and Chainlink will work together to support the adoption of blockchain-based solutions in global banking infrastructure.

As part of the partnership, the two companies plan to standardize Chainlink’s Cross-Chain Interoperability Protocol (CCIP), data flows, and compliance tools in banking infrastructures. This infrastructure reportedly supports approximately 1.7 billion customer accounts worldwide.

CCIP provides an infrastructure for facilitating data and asset transfers between different blockchain networks. Chainlink’s data streams enable financial applications to access data from external sources, while compliance tools can be used by financial institutions to comply with regulatory requirements.

Infosys and Chainlink’s collaboration focuses on improving the integration of traditional banking infrastructure and blockchain technology. The companies aim to make these technologies more standardized and scalable across different banking systems.

The infrastructure, which supports approximately 1.7 billion customer accounts, is expected to expand the partnership’s potential reach. However, the announcement did not provide a detailed timeline for which banks or financial institutions the integration will be implemented in and when.

The use of blockchain technology in the banking sector has gained prominence in recent years, particularly in areas such as cross-border transactions, data sharing, tokenization, and digital asset infrastructure. The partnership between Infosys and Chainlink is seen as one of the steps towards integrating these technologies with existing financial systems on a broader scale.

*This is not investment advice.