cryptonews.net
The development firm behind the Chainlink protocol has launched a cross-chain protocol aimed at enabling interoperability between traditional financial firms and both public and private blockchains. In a July 17 post on the Chainlink blog, Chainlink Labs Chief Product Officer Kemal El Moujahid announced that the Cross-Chain Interoperability Protocol (CCIP) has launched as part of early access on Ethereum, Avalanche, Polygon, Arbitrum, and Optimism. Developers on these platforms will have access to CCIP on their respective testnets on July 20th.
CCIP is an interoperability protocol that allows companies to transfer data and value between public or private blockchain environments directly from their backend systems. Chainlink's interoperability solution uses the Swift messaging infrastructure used by over 11,000 banks worldwide to facilitate international payments and settlements.
Financial institutions exploring Chainlink's interoperability solution include BNY Mellon, BNP Paribas, Citi, Australia and New Zealand Banking Group, Clearstream, Euroclear and Lloyds Banking Group, according to Chainlink. In addition to the five blockchains integrating CCIP, the AAVE DeFi protocol is set to implement an interoperability solution, and the decentralized derivatives platform Synthetix is already running on the CCIP mainnet.
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