Chainlink Partners with 24 Major Financial Institutions to Tackle $58 Billion Corporate Actions Problem

Chainlink, the decentralized oracle network provider, announced on September 29, at the Sibos conference that 24 major financial institutions and market infrastructures have joined an industry initiative to overhaul corporate actions processing. The collaboration includes prominent participants such as SWIFT, DTCC, Euroclear, and several leading global banks, aimed at addressing inefficiencies that cost the financial industry an estimated $58 billion annually. 

The initiative focuses on creating standardized "golden records" for corporate actions data using Chainlink's blockchain technology combined with artificial intelligence systems. Corporate actions, which include dividend payments, stock splits, mergers, and other corporate events, currently suffer from manual processing, data inconsistencies, and settlement risks across different financial institutions.

Chainlink Labs, the development company behind the Chainlink protocol, serves as the technical coordinator for the project. The New York-based firm has established itself as a leading provider of oracle services that connect blockchain networks with real-world data. The company's Cross-Chain Interoperability Protocol (CCIP) and data feeds already serve major financial institutions seeking to integrate blockchain technology into traditional finance operations.

The collaboration builds on previous partnerships between Chainlink and traditional finance institutions that began gaining momentum in 2024. SWIFT, the Belgium-based global financial messaging cooperative, has been exploring blockchain integration for cross-border payments and settlement processes. DTCC, the American post-trade financial services company that processes trillions of dollars in securities transactions, has been investigating distributed ledger technology for clearing and settlement operations.

Euroclear, the Brussels-based international central securities depository, brings expertise in post-trade services across European and international markets. The participation of these major market infrastructures signals significant institutional backing for blockchain-based solutions in traditional finance.

The initiative aims to reduce manual errors, accelerate settlement times, and improve data accuracy across the corporate actions lifecycle. Current corporate actions processing involves multiple intermediaries, manual data entry, and reconciliation processes that create opportunities for errors and delays. The blockchain-based system would create a single source of truth for corporate actions data that all participating institutions could access and verify.

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