This blog will be updated daily during Sibos week to recap major Chainlink announcements, keynotes, panels, interviews, and more.

Sibos, the global financial services event organized by Swift, brings together thousands of finance industry leaders, decision makers, and experts from across the financial ecosystem, making it the perfect platform to help shape the future of financial services and educate key decision makers on the benefits of onchain finance and the Chainlink platform. 

Chainlink has multiple leaders speaking at Sibos, a large team of top capital markets representatives meeting with many of the top banks, asset managers, and financial market infrastructures, and a booth alongside the largest banks and financial institutions in the world.

If you’re attending, check the full Chainlink schedule on this page: https://chain.link/sibos 

Day 1

Major Announcement: Chainlink, Euroclear, Swift, and 6 Financial Institutions Launch AI Initiative

The industry initiative brings together leading financial and market infrastructures, Euroclear and Swift, and some of the world’s largest financial institutions, including UBS, Franklin Templeton, Wellington Management, CACEIS, Vontobel, and Sygnum Bank.

It aims to address today’s inefficient corporate action processes, which cost regional investor, broker, and custodian businesses approximately $3-5 million each annually, with 75% of firms re-validating custodian and exchange data manually. The initiative successfully demonstrated how LLMs can be used in combination with Chainlink for near real-time data distribution of corporate actions events across three blockchain networks. With its novel approach of creating an interoperable, unified golden record, the initiative marks a significant architecture milestone in the ongoing journey to transform the management and dissemination of corporate actions data.

Read the full report.

Panel Discussion: Sustainable Securities Investment and Post-Trade Innovation

Chainlink Labs’ head of banking and capital markets, Angie Walker, kicked off Sibos 2024 in Beijing on a panel alongside ASIFMA, BMO Bank, CCDC (China Central Depository & Clearing Co., Ltd.), and DBS Bank. 

Despite a “huge appetite on the buy side to invest in green instruments” and the growing adoption of tokenization, green digital assets have yet to attract the required capital flows to achieve corporate sustainability goals. The panel identified that a lack of secondary markets and industry standards, along with a “fear of greenwashing,” were limiting adoption. 

“People tokenize assets all the time. What they don’t think about is, how do I get to the secondary market?”—Angie Walker

Angie Walker shared how Chainlink’s platform, in combination with technologies such as blockchains, smart contracts, and geospatial data providers, can “validate and verify” every aspect of a green digital asset’s lifecycle. One example referred to green digital bonds, which could “measure carbon emissions for the life of the bond.” Along with clear standards around green digital asset taxonomy and blockchain-based ownership records to mitigate greenwashing risks, thriving secondary markets could then emerge and commodify green digital assets. 

An end vision was shared in which the financial system is harnessed to catalyze the creation of a robust green asset industry, in much the same way that funding initiatives enabled the development of the solar industry. 

Watch the full video on Chainlink Today:

Live at Sibos

Accelerating Regulated Stablecoin Issuance With Fireblocks and Chainlink

Ryan Lovell and Tim Way from Fireblocks discuss the institutional adoption of regulated stablecoins and how the recent partnership between Fireblocks and Chainlink is accelerating this growing trend.

“Institutions now are in the phase where they want to drive commercialization with digital assets.”—Tim Way, Head of Business Solutions and Advisory, APAC & the Middle East, Fireblocks

Industry News

• Chainlink Partners With Major Financial Players to Improve Corporate Actions Data Reporting Using AI and Blockchain. CoinDesk.
• Chainlink using AI, oracles to bring market-moving corporate data onchain. Cointelegraph.
• Chainlink Partners with Financial Giants to Create AI Blockchain Record of Corporate Data. BeInCrypto.