TLDR:
- Chainlink partnered with 24 major financial players to create a unified corporate actions solution across blockchains and TradFi.
- The collaboration aims to cut $58B in global costs by automating corporate action data validation and distribution.
- ISO 20022 messaging via Swift and CCIP integration ensures instant delivery of verified records to multiple systems.
- Phase 2 achieved near 100% consensus accuracy across corporate action events, proving a production-ready solution.
Chainlink has brought some of the world’s largest financial players together to fix one of banking’s costliest headaches. The oracle platform revealed that it led a collaboration with 24 institutions to address corporate actions, a process costing $58 billion each year.
The initiative uses blockchain, AI, and cross-chain connectivity to speed up how corporate event data moves through global finance. The solution now produces verified records and delivers them directly to systems in minutes instead of days.
According to Chainlink, this work could sharply cut settlement errors and operational risk for banks, asset managers, and custodians. The results follow the second phase of an industry initiative first launched with Swift, DTCC, and Euroclear.
The project builds on early tests that showed large language models could extract and structure data from corporate event announcements. Now, the new system adds full-scale data attestation, cross-chain distribution, and ISO 20022-compliant messaging.
Chainlink, Swift, DTCC Join Forces to Automate Corporate Actions
The collaboration brought together Swift, DTCC, Euroclear, SIX, TMX, and other market infrastructures, as well as major banks like UBS, DBS Bank, and BNP Paribas.
They tested how multiple AI models could verify corporate event details, with Chainlink’s runtime environment orchestrating the process. Once validated, the data was transformed into ISO 20022 messages and sent through Swift’s network for direct delivery.
Chainlink’s Cross-Chain Interoperability Protocol (CCIP) then distributed the verified records across DTCC’s AppChain and several public and private blockchains. This means the same data can now be accessed by custodians, asset managers, and onchain smart contracts simultaneously.
New contributor and attestor roles were also created, allowing institutions to fill in missing data fields and cryptographically sign each record.
$58B Problem Gets an Onchain Fix
The corporate actions lifecycle has long been one of finance’s most fragmented processes.
Data often moves through PDFs and press releases, passing multiple custodians and brokers before reaching investors. Each step risks delays and errors. Citi estimates more than 110,000 firm interactions take place per corporate action event, at an average cost of $34 million.
Phase 2 of this initiative showed near 100% data consensus across events and supported multilingual announcements, including Spanish and Chinese.
Chainlink stated that the next phase will expand coverage to complex actions like stock splits and include more jurisdictions. This could allow tokenized equities to reference the same trusted records across networks, enabling greater automation of post-trade workflows.
The results mark a major milestone in connecting traditional infrastructure with blockchain rails. For investors and institutions, faster reconciliations and fewer manual interventions could become the new normal.
