Sibos 2024, the global financial services event organized by Swift, serves as a prominent stage for Chainlink to showcase its latest advancements and initiatives. Taking place in Beijing, the event brings together key players from the finance industry, providing an opportunity to explore the future of financial services through on-chain finance.
Chainlink’s presence at Sibos is marked by a series of announcements, panels, and collaborations with leading financial institutions. The company has set up a booth alongside some of the largest banks and financial institutions worldwide, aiming to engage with top capital markets representatives.
Chainlink’s AI Initiative with Euroclear and Swift
One of the standout announcements at Sibos is the launch of an AI initiative in collaboration with Euroclear, Swift, and six major financial institutions, including UBS and Franklin Templeton. This initiative targets the inefficiencies in corporate action processes, which currently cost businesses millions annually due to manual data validation.
The initiative demonstrated the use of Large Language Models (LLMs) in conjunction with Chainlink for near real-time data distribution across three blockchain networks. This approach aims to create an interoperable, unified golden record, marking a significant milestone in transforming corporate actions data management.
Panel on Sustainable Securities Investment
Angie Walker, Chainlink Labs’ head of banking and capital markets, participated in a panel discussion on sustainable securities investment and post-trade innovation. The discussion highlighted the challenges faced by green digital assets in attracting necessary capital flows, despite a growing interest in green investments.
Walker emphasized the potential of Chainlink’s platform, along with blockchain and smart contract technologies, to validate and verify green digital assets. She suggested that establishing clear standards and secondary markets could help mitigate greenwashing risks and promote the growth of green digital assets.
Accelerating Regulated Stablecoin Issuance
In another session, Ryan Lovell and Tim Way from Fireblocks discussed the institutional adoption of regulated stablecoins. They highlighted how the partnership between Fireblocks and Chainlink is facilitating the commercialization of digital assets, indicating a significant trend towards regulated stablecoin issuance.
For more detailed updates from Sibos 2024, visit the Chainlink blog here.
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