Bottomline Taps Chainlink to Bring 600 Banks On-Chain

This partnership between Bottomline and Chainlink is a major step toward making banking faster and cheaper for retailers. Currently, cross-border payments and settlements often take days and involve multiple intermediaries. By connecting 600 traditional banks to blockchain technology via the Swift network, this move aims to make transactions near-instant and more transparent. For your business, this means the 'plumbing' of the financial world is being upgraded. While this is a back-end banking change, the impact for retailers is significant. Faster settlement times mean better cash flow. If you sell to international customers or work with overseas suppliers, you could see reduced fees and fewer payment delays. The integration uses Chainlink’s technology to bridge the gap between old-school bank messaging and modern digital assets. This isn't just about crypto; it is about using the efficiency of blockchain to move traditional money more reliably. As these 600 banks adopt this standard, the friction of waiting for funds to clear will begin to disappear, allowing you to reinvest capital into your inventory or marketing faster than ever before.

Source: PYMNTS

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