Chainlink Announces New Use Case for CCIP in XPay Onchain Payments

• XSwap has adopted Chianlink’s CCIP for its new XPay tool, ensuring secure and efficient onchain payments with top security and easy integration for cross-chain transactions.
• The integration of Chainlink CCIP into XSwap’s ecosystem represents a significant enhancement in security and cross-chain transaction capabilities.

Chainlink has confirmed its position as the industry-standard protocol for secure cross-chain value transfers with its latest use case. XPay, developed by XSwap, is now utilizing Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to facilitate onchain payments.

XSwap expressed its excitement about the launch of XPay, a robust tool designed for cross-chain transactions, promising top security powered by Chainlink CCIP, easy integration for effortless cross-chain functionalities, and an expanded ecosystem for the XSwap community.

As XSwap continues to integrate into the ecosystem, the incorporation of Chainlink CCIP marks a significant advancement in security and cross-chain transaction capabilities.

As the industry-standard protocol for secure cross-chain value transfers, #Chainlink CCIP unlocks an array of use cases for users.

In the latest use case, XPay by @xswap_link is using CCIP to power onchain payments ↓ https://t.co/CNHgcJe6Sm

— Chainlink (@chainlink) June 13, 2024

In recent weeks, Chainlink has been integrating its CCIP protocol across multiple platforms. Earlier this week, Weset, a platform specializing in tokenizing real-world assets, integrated Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to facilitate cross-chain transfers of its WECO token between BNB Chain and Ethereum. This integration boosts liquidity, enhances user experience, and streamlines Weset’s infrastructure, per the Crypto News Flash report.

On the other hand, the decentralized computing platform Chainlink (LINK) has announced the use of its Cross-Chain Interoperability Protocol (CCIP) in the integration between DTCC and the new Smart NAV Pilot. This development solidifies Chainlink’s position as a leading player in the decentralized finance (DeFi) ecosystem, as reported by Crypto News Flash.

More About Chainlink’s CCIP

As blockchain interoperability becomes increasingly crucial, Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is emerging as a pivotal technology.

The Cross-Chain Interoperability Protocol (CCIP) offers a plug-and-play solution that simplifies processes by eliminating the need for locking, burning, and minting tokens. It also enables programmable transfers, allowing users to conduct data and token transfers simultaneously in a single atomic transaction.

Since its debut in August 2021, CCIP has set the standard for blockchain interoperability. With a decentralized network of proven node operators, a robust risk management system, and extensive ecosystem support across multiple blockchains, it is considered the gold standard.

CCIP now also supports projects involving multi-billion dollar institutions like the American clearing powerhouse DTCC and prominent blockchain industry players like Index Coop.

Chainlink’s native cryptocurrency LINK is currently trading around $15.20 with a market cap of $8.9 billion. Moreover, the daily trading volume has dropped by 30% to $276 million.