Chainlink introduced an updated version of its Cross-Chain Interoperability Protocol (CCIP) for financial institutions, digital asset issuers, and DeFi projects.
Chainlink, a developer of decentralized infrastructure, announced the launch of CCIP 2.0, an updated version of its cross-chain interoperability protocol featuring independent transaction verification, configurable finality, and built-in compliance tools. The new version is already available to all institutional clients and digital asset issuers.
Chainlink introduced several new features in CCIP 2.0:
- Cross-Chain Verifiers (CCVs) allow organizations to add their own verification layer for cross-chain transactions on top of CCIP’s standard security system. Clients can connect one or more independent verifiers that check a transaction and cryptographically attest to it before it’s executed on the destination chain. A verifier can be deployed on an organization’s own infrastructure or through cloud services, including Amazon Web Services (AWS) and Google Cloud. Organizations can also determine which transactions require additional verification. CCVs work alongside the Chainlink Committee Verifier, and transactions are executed only when the verification requirements of both layers are met.
- Configurable transaction finality allows users to set the required level of transaction confirmation on the source blockchain before execution on the destination chain. Instead of waiting for full finality in every case, users can select a faster mode for transactions where speed is a priority while retaining full finality for large transfers. CCIP 2.0 already supports the Fast Confirmation Rule (FCR) on Ethereum, which allows transactions to be confirmed within seconds.
- Built-in compliance. CCIP 2.0 features native integration with the Chainlink Automated Compliance Engine (ACE) technology framework, which allows compliance policies to be applied directly to cross-chain transactions. Issuers can set KYC and AML requirements, conduct sanctions screening, use allowlists and blocklists, and set limits on transaction volume and frequency. These rules can be applied to an asset across multiple blockchain networks and token standards.
As part of CCIP 2.0, Chainlink also redesigned its developer tools. The company updated its API, SDK, and CLI, unified workflows for standard and accelerated cross-chain transfers, and expanded configuration options for transaction execution and token pools.
CCIP, Chainlink’s cross-chain interoperability protocol, launched in 2023. A year later, its functionality was updated to support confidential blockchain transactions. According to Chainlink, transaction volume processed through CCIP has already exceeded $84 billion. Financial and technology organizations integrating assets or infrastructure with CCIP include ANZ, Fidelity International, Taurus, SWIFT, DTCC, and many others.
