Chainlink has officially launched CCIP 2.0, marking the next generation of its Cross-Chain Interoperability Protocol. The upgraded protocol functions as a neutral interoperability layer designed to allow financial institutions distribute tokenised digital assets across public and private blockchains without needing to rearchitect their existing technology stacks.
The launch comes as financial markets players are increasingly adopting tokenisation of financial assets while dealing with the inertia caused by assets being hosted across isolated blockchains, which has historically restricted liquidity and asset movement. Chainlink’s CCIP 2.0 aims to address this fragmentation.CCIP 2.0 introduces several features aimed at institutional compliance and risk management:
- User Attestations: Institutions can operate their own Cross-Chain Verifiers (CCV) via cloud platforms, such as Amazon Web Services or Google Cloud to add a mandatory verification step before execution.
- Additive Security: Users can layer independent verification using CCVs run by third-party enterprise providers, such as Infosys and Nethermind.
- Built-in Compliance: The system automatically enforces KYC, AML, and sanctions screening for transactions to align with regulatory requirements.
- Configurable Speed: Operators can adjust finality speeds to balance near-instant transfers with maximum security confirmations.
The protocol launches with a network of partners and industry supporters, including Fidelity International, ANZ Bank, Deutsche Börse Group’s Crypto Finance, Taurus, Sygnum, and AWS. Chainlink claims that CCIP has secured more than $84 billion in total cross-chain token value to date.
Meanwhile, Chainlink CCIP customer Swif has progressed its blockchain-based shared ledger, which was formally announced at the recent Sibos conference following a pilot phase when 17 financial institutions tested tokenised deposit transactions.
The Swift ledger provides a secure orchestration layer that coordinates 24/7 cross-border movements of tokenised deposits, which remain on commercial banks’ individual blockchain balance sheets. This orchestration occurs before final settlement, meaning Swift’s role as a messaging network remains unchanged, and final settlement continues to rely on existing mechanisms like real-time gross settlement (RTGS) systems.
To support interoperability, the Swift ledger integrates Chainlink’s Runtime Environment (CRE) and CCIP. Leveraging CCIP, the Swift ledger intercepts ISO 20022 messages, translating and routing the data to blockchain-based smart contracts that execute the tokenised deposit transfers.
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