Chainlink expands industry initiative with 24 banks to cut $58B corporate actions cost
Global financial firms test Chainlink-led blockchain and AI system to standardize corporate actions and reduce settlement risk
Ketut Agus Suardika/Shutterstock and Adobe modified by Blockworks
Chainlink announced on Monday that 24 major financial institutions and market infrastructures, including the Depository Trust & Clearing Corporation (DTCC), SWIFT and Euroclear, have joined its initiative to overhaul corporate actions processing.
The blockchain oracle platform said the system integrates artificial intelligence (AI) and distributed ledger technology (DLT) to deliver structured, validated corporate actions data across multiple languages directly into existing systems, reducing processing times from days to minutes.
The global financial industry currently spends an estimated $58 billion annually on corporate actions — such as dividend payments, mergers, and stock splits — with automation rates below 40%, according to Citi’s 2025 Asset Servicing report.
The initiative builds on a 2023 pilot where Chainlink, SWIFT, Euroclear, and several banks demonstrated how large language models could parse unstructured announcements and publish standardized golden records onchain.
In Phase 2, the Chainlink Runtime Environment (CRE) validated AI outputs, converting them into ISO 20022-compliant messages transmitted over the SWIFT network. Chainlink’s Cross-Chain Interoperability Protocol (CCIP) also distributed confirmed records across DTCC’s blockchain ecosystem and multiple blockchain networks, enabling simultaneous access by custodians, post-trade systems, and smart contracts.
Participants, including UBS, BNP Paribas Securities Services, ANZ, Wellington Management, and DBS Bank, tested the system, which achieved near-total data consensus across AI models. The architecture also supported multilingual disclosures, extending potential coverage across jurisdictions.
This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.
Get the news in your inbox. Explore Blockworks newsletters:
- The Breakdown: Decoding crypto and the markets. Daily.
- 0xResearch: Alpha in your inbox. Think like an analyst.
