- Chainlink has received the Swift Hackathon 2025 for its cross-border digital asset settlement answer, chosen from a report 104 individuals.
- This improvement arrives shortly after Chainlink and Swift launched a stay pilot with UBS Tokenize, showcasing on-chain fund subscription capabilities.
The Society for Worldwide Interbank Monetary Telecommunication (SWIFT), which connects 11,000 monetary establishments throughout greater than 200 nations via its safe messaging system, held its 2025 Hackathon from July 11 to July 25.
The outcomes at the moment are in. Chainlink (LINK), the decentralized oracle community, took house the highest spot within the Enterprise Problem, whereas Deutsche Financial institution claimed victory within the Technical Problem. The judges additionally acknowledged two robust runners-up: Crédit Agricole CIB within the Enterprise Problem and Forex Community Ltd within the Technical Problem.
The Swift Hackathon 2025 featured two important tracks designed to push innovation in cross-border funds. The Enterprise Problem centered on making digital transactions quicker, cheaper, and extra clear throughout completely different networks, whereas the Technical Problem zeroed in on bettering interoperability utilizing ISO 20022 requirements for seamless cross-currency and cross-network flows.
The occasion drew a powerful 104 groups from throughout the globe, marking Swift’s greatest hackathon participation so far, in comparison with 2024’s 79 corporations.
Chainlink’s Successful Resolution
Ryan Lovell, Director of Capital Markets at Chainlink Labs, defined that the Chainlink runtime atmosphere addresses key challenges by including the next layer of abstraction and orchestration. In observe, this turns particular person elements into coordinated workflows, permitting establishments to seamlessly join on-chain and off-chain methods, simplify advanced processes, and create outcomes larger than the sum of their elements.
Lovell defined that the answer exhibits how a transaction can begin and be validated on-chain, with compliance and id checks routinely enforced via coverage guidelines. From there, the fiat fee is dealt with off-chain through Swift, which then triggers on-chain settlement and supply of the digital asset.
This, he emphasised, merges conventional and digital finance right into a safe and compliant workflow.
The answer leverages Chainlink’s automated compliance framework, a versatile setup of good contracts and off-chain providers built-in inside its runtime atmosphere. With the added help of GLEIF’s vLEI id framework, it streamlines onboarding by automating KYC procedures and sanctions checks.
On the similar time, it reduces prices, safeguards person privateness, enhances transparency, and ensures that each transaction stays securely traceable and auditable on-chain.
Chainlink defined on X that,
The identical profitable strategy might be prolonged to energy regulatory-compliant stablecoins, tokenized deposits, central financial institution digital currencies (CBDCs), digital securities, and different tokenized monetary devices.
This isn’t Chainlink’s first success with Swift; the corporate had beforehand received the 2016 Innotribe Business Problem, a precursor to the Hackathon.
Since then, the collaboration has deepened. Most not too long ago, we reported that Chainlink and Swift have been engaged on methods that allow monetary establishments to handle tokenized fund processes straight via current Swift messaging, powered by the Chainlink Runtime Setting.
Final week, Chainlink struck a take care of the Canton Community, a consortium blockchain supported by among the world’s largest banks and tech leaders. The transfer incorporates Chainlink’s providers into Canton, enhancing knowledge connectivity and cross-chain performance for institutional finance.
