A system and method are provided for transmitting and receiving asynchronous channels of information via a SerDes Frame Interface (SFI) 4.2 interface. The SerDes device accepts a plurality of channels operating at asynchronous channel clock rates. Bytes of data from each channel are loaded into a source at the channel clock rates. Once loaded, the bytes of data for each channel are drained from the source at a line clock rate and interleaved into four 64-bit segments. A 2-bit control word is added to each segment, creating 66/64-bit data blocks. The control word indicates the validity of bytes of data within the 66/64-bit data blocks. Then, the 66/64 bit data blocks are transmitted via a SFI4.2 interface in four lanes, at a rate proportional to the line clock rate.