Bottomline, a top SWIFT provider processing $16 trillion annually, selected Chainlink to connect 600+ banks to blockchain settlement, driving LINK to an eight-month high.
Macro & Markets ·
Chainlink's native token LINK reached $13.64 on Monday, marking its highest price since January 18, after Bottomline announced a partnership to integrate Chainlink's infrastructure across its banking network. Bottomline, ranked among the top three SWIFT services providers and processing over $16 trillion in annual payments, plans to enable its 600-plus bank clients to access blockchain settlement rails. The token gained 6.8% in a single day, outperforming all other cryptocurrencies in the top ten by market capitalization during that period.
The integration will leverage two Chainlink products: Cross-Chain Interoperability Protocol for moving tokenized assets between more than 60 blockchains, and Chainlink Runtime Environment for orchestrating payment workflows. Banks will continue using ISO 20022 messages—the global standard for cross-border payments—while Chainlink operates as an underlying connector layer rather than replacing existing infrastructure. Open interest in LINK derivatives contracts simultaneously climbed to an 11-month peak of $784 million.
The companies have not yet disclosed a go-live timeline or identified any pilot banking partner. SWIFT previously conducted interoperability experiments with Chainlink in 2023 involving over ten institutions including Citi and BNY Mellon, though Bottomline's deployment would represent a significantly broader commercial arrangement.