Bottomline, a leading Swift service provider facilitating over $16 trillion in payments annually, has recently introduced Global Pay Connect, a cutting-edge onchain payment connectivity platform for more than 600 banks, powered by Chainlink. This innovative solution offers financial institutions a direct pathway into blockchain-based payment infrastructure without the need to overhaul their existing systems.
Chainlink Empowers 600+ Banks with Onchain Connectivity
By leveraging Chainlink’s interoperability and orchestration infrastructure, Bottomline extends its platform capabilities. Through CCIP, Bottomline’s payment infrastructure seamlessly integrates with blockchain networks using a unified, network-agnostic integration approach, while CRE streamlines payment workflows across onchain and offchain systems.
This integration is significant as it enables institutions to access onchain payment rails via the Swift network and familiar payment messaging standards, eliminating the need for custom integrations for each blockchain network.
Global Pay Connect Enhances Existing Payment Infrastructure
Global Pay Connect by Bottomline emphasizes connectivity over introducing yet another standalone payment system. With over 600 banks already onboard, this collaboration bridges traditional financial infrastructure with the onchain economy through Chainlink.
Moreover, the platform facilitates seamless payment workflows between traditional and blockchain systems, offering financial institutions a pathway to blockchain networks while preserving their existing infrastructure and standards.
$LINK Price Faces Crucial September Challenge
Meanwhile, the price of $LINK has been under pressure following a rejection at the $13.50 resistance level earlier in September. By mid-September, $LINK retreated towards the 50-day EMA band, making it the immediate technical focus.
If the price of $LINK holds above the 50-day EMA by the end of September, it could potentially form a recovery pattern and retest $13.50 or even aim for $18.00. However, a failure to maintain the 50-day EMA could lead to a decline towards $8.00, with $6.00 or lower serving as potential downside targets based on the current setup.