Bottomline, a Swift service provider that handles over $16 trillion in annual payments, has launched a new onchain payment connectivity platform called Global Pay Connect. Powered by Chainlink, the platform connects more than 600 banks to blockchain-based payment infrastructure.
Integrating Traditional Rails with Blockchain
The new platform allows financial institutions to access onchain payment rails directly through the Swift network and existing payment messaging standards. Instead of replatforming or building custom integrations for separate blockchain networks, banks can utilize a single, network-agnostic integration model.
Chainlink extends Bottomline's platform through its interoperability and orchestration infrastructure. Specifically, CCIP links the payment infrastructure to blockchain networks, while CRE coordinates workflows across both onchain and offchain systems, enabling institutions to adopt blockchain connectivity while retaining their current infrastructure.
LINK Market Performance
In market developments, Chainlink's native token, LINK, faced downward pressure after a rejection at the $13.50 resistance level in early September, declining toward the 50-day EMA band by mid-September. Analysts are watching to see if the token can hold the 50-day EMA through the end of the month to form a potential recovery pattern toward $13.50 or $18.00, or risk sliding toward downside levels of $8.00 or $6.00 if support fails.
