Chainlink unveiled its Chainlink Runtime Environment (CRE) at SmartCon 2024, aiming to revolutionize on-chain banking by providing a decentralized and scalable platform for financial services. This upgrade allows developers to create custom workflows that enhance cross-chain compatibility, improve security, and reduce operational costs by eliminating intermediaries. With CRE, financial institutions can develop DeFi applications that integrate seamlessly with both private and public blockchains, potentially transforming traditional banking systems.